Sydney based mortgage manager and broking group Mortgageport has announced plans to expand it’s business by acquiring other mortgage broking and distribution businesses as well as mortgage portfolios.

The business in which a 50% interest was acquired by the publicly listed Over fifties Group in 2005, has continued to trade profitably despite tough economic conditions and now sees it as a perfect time to expand by acquiring other quality mortgage businesses.

“With decreasing commissions and increased regulation going forward now it is time to look to the larger scale to successfully compete going forward.” said Mortgageport’s Managing Director Glen Spratt. “We hope to be able to join a few successful businesses together and create a viable alternative for borrowers over the long term by offering a range of products from wholesale lenders and retail banks directly to borrowers. The key objective for us, is to provide not only a choice of products but to be able to back that up with genuine service.”

Spratt believes that it may now be the time for some successful long term mortgage operators to look at options where they can divest their business without damaging the goodwill they have built up with their mortgage clients over many years.

Mortgageport was established in 1998 and operates as a mortgage manager and originator and in 2001 diversified it’s operations by also becoming a mortgage broker.

Interested parties should contact Mortgageport for further information on +61 (2) 9466 8200