Sunday, June 5, 2022
HomeMortgageFairness-One welcomes development after acquisition

Fairness-One welcomes development after acquisition


In March, Melbourne non-bank business lender Fairness-One was acquired by Westlawn Finance Restricted.

Positioned in northern NSW, Westlawn has 9 branches that gives a spread of monetary service together with private loans, mortgage broking, enterprise loans, and insurance coverage broking.

Fairness-One managing director Dean Koutsoumidis (pictured) stated it was enterprise as normal for the reason that acquisition had been finalised.

“Once we met with the administrators of Westlawn and their guardian firm COG [a finance broker aggregator and equipment leasing business for SMEs], the synergies between our companies had been immediately obvious,” Koutsoumidis stated.

“Basically, life is identical as earlier than the acquisition with no change of chef within the kitchen.”

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Koutsoumidis stated Fairness-One needed to proceed doing what it was identified for and to continue to grow.

“One in every of our targets is to mix the synergies of the companies. COG has an intensive community of brokers, and we wish to have the ability to provide our providers to that brokerage and add worth there,” he stated.

Koutsoumidis stated when the acquisition occurred, he couldn’t imagine how lucky all Fairness-One stakeholders together with traders, dealer group, service teams and advisers had been.

“There was nothing damaging in any respect,” he stated.

“Definitely, Westlawn have put extra wind in our sail and as they’ve been round for a very long time – they know what they’re doing.”

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Koutsoumidis stated Fairness-One shoppers would profit from the acquisition by the actual fact it was nonetheless doing a lot of the identical factor.

“We wish to lend extra to our dealer community who refers us work throughout Australia,” he stated.

“To have the ability to develop on what we’re doing and doing it properly. Westlawn companies are additionally properly established and can sit properly alongside Fairness-One. We now have been round for a very long time, and we plan on sticking round for a very long time.”

The managing director stated its robust swimsuit helps shoppers who should not financial institution prepared but.

“Our candy spot helps business debtors get on with initiatives when the banks aren’t dancing,” he stated.

“We’re not planning on altering who we’re or who we’re related too. It’s vital to maintain related and present along with your shoppers.”

Fairness-One will proceed to ship on its service of effectively settling loans for its shoppers, its easy after settlement service, and the way it takes care of individuals who wish to discharge a mortgage.

“At every touchpoint there must be a very good buyer expertise, and we’re consistently conscious of that. We is not going to relaxation on our laurels.”

Koutsoumidis stated within the non-bank area he had seen the market mature yr in and yr out.

“Nowadays there may be extra selection for brokers and debtors, and we see our brokers as professionals who’re conscious of {the marketplace} and provide a wide range of choices to well-educated shoppers,” he stated.

“Debtors have excessive expectations and are conscious of market traits. Persons are savvy and have info at their fingertips about who they’re considering transacting with.”

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