Moneypark, a Swiss online mortgage broker, has poached an entire team of mortgage advisers from rival Hypoplus, CEO Stefan Heitmann told finews.com. The competition among new players in the mortgage industry is gathering pace.
Stefan Heitmann, CEO and founder of Moneypark, is in fine fettle – other than many of his colleagues in the business he sees no reason to worry much about his industry: «The mortgages business is in perfect shape and very stabile. Obviously, there are always going to be slight changes, but this is to the benefit of the market.»
He sees no signs of overheating, apart from maybe in the market with so-called residential investment properties, which Heitmann sees are overpriced. Normal homeowners however have little ground to worry.
Consolidation in Brokerage Industry
The future of his own business is also something that will make Heitmann more than happy. In December, Moneypark achieved what he says was a «team lift-out». A group of seven mortgage experts will move over from rival Hypoplus at the end of February, beginning of March.
«With this step, we are pushing the consolidation of the market and firm our status as No. 1 and growth engine among independent mortgage brokers,» says Heitmann.
New Major Client
Moneypark is welcoming the team with open arms as its business is growing. «Helvetia Group has decided to shift its entire mortgage product over to us,» Heitmann said. The move showed that the insurer had agreed that the advise of mortgage takers should be in the hands of the experts, he added.
In future, Helvetia won’t be advising mortgage takers or sell such products, but merely help them onto the platform and advisers of Moneypark.
