New Shareholder Announced for Mortgage Express

NEWS RELEASE
New Shareholder Announced for Mortgage Express

New Zealand’s largest non-franchised mortgage brokerage, Mortgage Express has a new shareholder – CEO of Mortgage Express, Andrew L’Almont who has purchased 10 percent of the organisation.

The remaining shares and controlling interest in Mortgage Express (www.mortgage-express.co.nz) are owned by Harcourts International Ltd, whose majority shareholders are Harcourts’ Managing Director, Mike Green and Executive Director, Paul Wright.

Mortgage Express was first launched by Harcourts in 1998 in response to an in-house survey which found the public increasingly demanding a ‘one-stop-shop’ service when purchasing property, and was the first real estate group to do so. Mortgage Express currently has 47 Mobile Mortgage Managers operating throughout New Zealand settling in excess of $720 million in mortgages per annum.

Mr L’Almont has been involved in the financial services industry for 31 years and was responsible for setting up financial services for Harcourts Australia (Harcourts Financial Services). Prior to that he was involved in establishing from inception financial services for a major real estate chain in Australia.

Executive Director of Harcourts International Ltd, Paul Wright said, "Mortgage Express plays a crucial role in providing both Harcourts consultants and the public with an essential part of the real estate transaction. Andrew L’Almont has been a key figure in the success of Mortgage Express and we are delighted to congratulate him on this announcement.”

Mr L'Almont said that over 30 percent of New Zealanders now use mortgage brokers in their search for the most appropriate home loan. “People recognize that major broker firms like Mortgage Express can often get them a better deal through their own bank that they can get themselves. All our brokers are professionally trained and NZMBA accredited so that they can give professional advice across a range of lending institutes and home loan types, enabling them to secure for their clients the best option available. The right home loan can literally save a borrower tens of thousands of dollars.”

ENDS

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