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RealEstate.com.au
to offer home loans - 19th December 2016
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REA
Group's RealEstate.com.au is hoping to grab a share
of the $400 billion mortgage market by offering its
own home loans from next year, thanks to a new partnership
with National Australia Bank.
Consumers
will be able to access home loans from NAB and other
lenders, plus a RealEstate.com.au branded product
- sourced from NAB - as part of the five-year agreement
between the two companies.
REA
chief executive Tracey Fellows said the partnership
will help the company - which is majority owned by
Rupert Mudoch's New Corp with a near 62 per cent stake
- tap into the local mortgage market.
"We
will be assisting home buyers throughout their entire
property journey, whether it be buying, renting, investing
or selling," Ms Fellows said.
NAB
chief operating officer Antony Cahill said the partnership
will bring property search and home lending together
inan Australian first, and possibly even the world.
"We're
combining our respective expertise to deliver more
to Australian property buyers and create a game-changing
experience," Mr Cahill said on Monday in a statement.
Both
companies have established teams to collaborate on
the development and rollout of the project.
REA's
team will be led by executive directorof financial
services, Andrew Russell, and NAB's team will be led
by executive general manager of consumer lending,
Angus Gilfillan.
(AAP)
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