Canberra brokerages Tiffen and Co and The Mortgage Detective yesterday announced they had come together to form what they claim will be the ACT’s largest brokerage.
The combined entity will have a loan writing team of ten with a loan book that exceeds $1 billion.
Alison Whittle, founder of The Mortgage Detective and now director of operations with the amalgamated group, said the merger placed the two businesses in a strong position to move forward.
“Economies of scale and cost synergies are very important in the current market,” she said.
“It was about being proactive about our positions rather than reactive; ensuring our businesses remain strong.”
Ms Whittle said the merger made sense because of the two groups’ similarities.
“We’ve worked together in the past and knew we had very similar businesses,” she said.
The brokerage has begun integrating operations this week and has confirmed it will continue to operate under both names at this stage.
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