You are using an older browser version. Please use a supported version for the best MSN experience.

Realestate.com.au moving into home loans

AAP logoAAP 19/12/2016

REA Group's realestate.com.au is hoping to grab a share of the $400 billion mortgage market by offering its own home loans from next year, thanks to a new partnership with National Australia Bank.

Consumers will be able to access home loans from NAB and other lenders, plus a realestate.com.au branded product - sourced from NAB - as part of the five-year agreement between the two companies.

REA chief executive Tracey Fellows said the partnership will help the company - which is majority owned by Rupert Mudoch's New Corp with a near 62 per cent stake - tap into the local mortgage market.

"Wewillbeassistinghomebuyersthroughouttheirentirepropertyjourney,whetheritbebuying, renting,investingorselling," Ms Fellows said.

NAB chief operating officer Antony Cahill said the partnership will bring property search and home lending together inan Australian first, and possibly even the world.

"We'recombiningourrespectiveexpertisetodelivermoretoAustralianpropertybuyersandcreate agame-changingexperience,"MrCahillsaid on Monday in a statement.

Both companies have established teamstocollaborateonthe developmentandrolloutoftheproject.

REA'steamwillbeledby executive directorof financial services,Andrew Russell,and NAB'steamwillbeledby executive general managerof consumer lending,AngusGilfillan.

image beaconimage beaconimage beacon