Mortgage Alliance to be dissolved
Monday 17 May 2004
Umbrella organisation The Mortgage Alliance is in the process of being dissolved after less than two years following management and shareholding changes at its largest member, Mortgage Link.
By The LandlordMortgage Link founder and former general manager Roger Poulter sold his 34% stake in the business early this year which resulted in the company gaining more than 50 shareholders, 35 of them licencees. Rod Templeton, formerly general manager at Perpetual Trust, took over as chief executive in February.
"We�ve become big enough and independent enough, particularly now that our shareholding has changed from only a couple of people owning all the shares," says Mortgage Link chairman Ross Butler.
"We thought it was appropriate that we should have direct links with the lenders and have one less link in the chain from lenders to brokers."
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There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.