Brokerage N1 Loans diversifies into real estate business

Mortgage brokerage N1 Loans is all set to launch a own real estate arm as part of its efforts to become a “one-stop-shop” financial services company.

N1 Realty will officially start trading from July 1 in Sydney.

The group is negotiating a lease for a location in Chatswood in Sydney’s North Shore, Australian Broker reported.

The article cited N1 Loans CEO Ren Wong as saying demand from its customers for investment properties drove the decision to move into the real estate business. 

“We have over 2,000 clients in our Salesforce CRM, and given our strong pre-approvals pipeline, it's time for us to diversify,” Wong said. 

The realty arm would be headed by an industry veteran, is all Wong would say.

“We look forward to developing N1 further as a full service financial services company, making investment easier for our growing customer base,” Wong said.

The group, which started trading on the ASX earlier this year, claims it launched Australia’s first Chinese language mortgage comparison website in April 2015, a DIY property renting app connecting landlords with potential tenants in December 2015, and an English language online mortgage calculator and comparison website this month.

Earlier this week, N1 entered into a deal with insurance provider Ensurance to supply white label insurance products to its home loan clients.