Friday, February 3, 2023
HomeMortgageFairness-One welcomes progress after acquisition

Fairness-One welcomes progress after acquisition


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

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

Fairness-One managing director Dean Koutsoumidis (pictured) mentioned it was enterprise as common because the acquisition had been finalised.

“After we met with the administrators of Westlawn and their father or mother firm COG [a finance broker aggregator and equipment leasing business for SMEs], the synergies between our companies have been immediately obvious,” Koutsoumidis mentioned.

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

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

“One in all our goals is to mix the synergies of the companies. COG has an in depth community of brokers, and we would like to have the ability to supply our companies to that brokerage and add worth there,” he mentioned.

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

“There was nothing destructive in any respect,” he mentioned.

“Indisputably, 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 mentioned Fairness-One shoppers would profit from the acquisition by the very 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 mentioned.

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

The managing director mentioned its robust swimsuit helps shoppers who aren’t financial institution prepared but.

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

“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 continuously conscious of that. We won’t relaxation on our laurels.”

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

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

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

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