Commercial financial brokerage BF Money has acquired Lendfin’s loan book, continuing its growth in the Sydney market.
Lendfin was a mortgage and asset finance brokerage, which like BF Money was also based in Parramatta. It served many of the same clients as BF Money.
“I have always respected the family, business, and many of Lendfin’s clients are known to us at BF Money already,” said BF Money director George Karam (pictured).
Read more: Net of offset commissions hurting brokers, says FBAA (brokernews.com.au)
Karam said his team will be conducting a review of Lendfin’s existing loan facilities to make sure it is at the best rate the current lender can offer.
“Some of the loans were originated many years ago, and t. may be a cheaper product available at the same lender that we would like to make available,” he said.
Karam said by aggregating together, BF Money’s new clients will have greater reach and prominence with banks and capital markets.
“We will accelerate our IT development to provide clients with unparalleled efficiency, insights and value-added advice and recommendations on how to borrow cheaply and ensure funding is always available,” he said.
Read more: Will Labor’s home-buying scheme help brokers?
BF Money has recently appointed three new team members to continue its growth phase.
“George Rizkallah joins us in the role of credit manager, w. previously he was at Bank of Sydney in the same role,” Karam said.
“Yashdeep Singh has joined the team in the role of analyst and is currently enrolled at Macquarie University w. he is undertaking a Bachelor of Actuarial Studies. We also have Luke Mawad joining us in the role of analyst and he is also currently enrolled with Macquarie University studying a Bachelor of Actuarial Studies.”
Karam said to continue providing high levels of service standards, BF Money had increased its capacity with its new additions and he was pleased to have them as part of its tight knit team.
“George, Yashdeep and Luke will aid in the delivery of our improved processes as a result of the IT changes,” Karam said.
“Our systems are not designed to replace people, but rather to enhance their ability to deliver enhanced outcomes.”
Karam said each team member brings their own unique personality and life experience and he was truly enriched to have these individuals join the BF Money team.
“I very much look forward to seeing what we can deliver together,” he said.