Major accounting group expands into mortgages

Chan & Naylor today announced that it has signed a joint venture agreement with Origin Finance to provide finance broking services to Chan & Naylor clients nationwide.

The new business will be known as Chan and Naylor Finance and will leverage of the firm’s existing operations in property taxation and wealth advice.

The new venture will consolidate the various state-based finance businesses operated under the Chan & Naylor brand under one umbrella to better meet the requirements of all new and existing clients nationally.

Under the agreement, Origin Finance will place and manage brokers within Chan and Naylor offices nationally.

“Ultimately our mortgage business can be comparable in scale to our accounting practice. Not least because our clients will appreciate the end-to-end solutions we will provide them in assisting them manage their investments,” Chan & Naylor managing director Ken Raiss said.

Origin Finance chief executive Doug Daniell said Chan & Naylor and Origin’s strengths are complementary.

“Chan & Naylor has a good geographic footprint, with 15 offices located around Australia while Origin comprises an extensive network of brokers,” Mr Daniell said.

“Initially we anticipate staffing Chan and Naylor Finance with existing Chan & Naylor personnel and Origin brokers,” he said.

“However, we will look to recruit some experienced brokers, especially those with banking or credit backgrounds to expand into new locations and grow the existing locations.”

Chan and Naylor Finance will look to offer branded home loans with interest rates discounted by more than one per cent below standard variable rates.

In addition, the group will provide SMSF and bespoke loans for Chan and Naylor’s Property Investor Trust (PIT®).