By: Staff Reporter
Mortgage EZY has today announced it will acquire Great Pacific Finance’s $375 million loan book in a bid to ramp up its portfolio.
The non-bank lender’s executive chairman and founder Peter James said the purchase substantiates the company’s strong financial position in the market.
According to Mr James, the company has had several offers to purchase other loan books in recent months, however, the company wanted to wait till the timing was just right.
“Timing is imperative and this was the most tactically significant and sensible one for Mortgage EZY now however, tomorrow is always another day,” he said.
Ongoing trail revenues inherent to the Great Pacific Introducers would be honoured under the terms of the agreement.
The acquisition comes hot on the heels of the company’s recently launched uQUIT variable term loan, which slashed 20 basis points off standard wholesale pricing.
