eChoice confirmed its decision to bring back Lawfund due to "favourable industry conditions", with the re-launch set for later this month.
Lawfund was originally established in 1995 specifically to help member solicitors and accountants arrange finance for their clients. It was was acquired by eChoice in 2007 with over 1,000 members, made up of solicitors, brokers, financial planners and real estate agents from across Australia.
eChoice CEO Peter Andronicos said the respected reputation of Lawfund remains and will support its capability to re-set the benchmark as a quality mortgage referral business for brokers.
“This re-entry into the marketplace has been a considered decision which will also provide additional support to the forward digital strategy for eChoice," he said.
“We are looking forward to expanding our industry reach to a receptive network of finance and legal professionals who respect what the Lawfund name brings to their business, while brokers will benefit from our customised approach to a comprehensive borrower proposition. This is positive news for the industry and our brokers.”
eChoice general manager of sales and distribution, Paul Liccione, has been appointed as Lawfund’s managing director as part of a group shareholding structure.
“Lawfund has a unique and valuable role to play in the industry, and through our new team and partnership with eChoice, brokers will be able to immediately benefit from the leading edge infrastructure, technology and service offering already in place,” Mr Liccione said.