Home loan disruptors Lendi and Aussie to merge

Media release

16 December 2020|3 minute read


  • Lendi to access iconic Aussie brand and national network across over 970 brokers and over 210 stores, boosting distribution.
  • Aussie to access Lendi’s proprietary digital technology and platform, bolstering customer choice.

Lendi, Australia’s number one online home loan platform, and Commonwealth Bank of Australia (CBA), today announced that they have entered into an agreement to merge Lendi with Aussie Home Loans (Aussie).

The proposed transaction would see Lendi’s market-leading digital technology combine with Aussie’s iconic brand and significant broker and franchisee network, to create a market leader in the Australian home loan market.

The merged business will maintain a multi-brand strategy and is expected to deliver a range of benefits for both customers and brokers including:

  • provide more Australians with a greater choice of home loan lenders, products and ways to engage with their mortgage broker via in person or online channels to ensure they are getting the best product suited to their individual needs;
  • provide an opportunity for Aussie brokers and franchisee network to leverage Lendi’s technology and platform, including integration with lender credit-decisioning engines and regulatory and compliance tools; and
  • increased investment in both brands to accelerate future growth and investment opportunities as a merged business.

Lendi shareholders will hold the majority shareholding of 55% in the merged business, while Aussie’s current owner, CBA, will hold a 45% shareholding and continue to provide funding for the Aussie Select branded home loan product.

David Hyman, CEO and co-founder of Lendi, said; “This is an exceptional opportunity to drive the growth and digitisation of two companies that have led disruptive change for the benefit of customers in the Australian home loan market.

“Lendi was born digital. Our technology, platform and people have revolutionised not only how Australians access home loans but also market transparency. The role of digital technology in strengthening customer outcomes, compliance and operational agility is only growing in importance and by coming together with a robust and trusted business like Aussie, we will be able to drive even stronger outcomes for more homeowners and brokers alike.”

James Symond, Chief Executive Officer of Aussie, said; “The merger is another important step in the almost 29-year evolution of Aussie as Australia’s leading retail mortgage broker. We are currently posting record lending volumes through our network of over 970 brokers and over 210 stores and, by underpinning Lendi’s technology across our national broker network, we will further accelerate this growth and momentum.”

Aussie’s award-winning broker and franchisee network will remain central to providing consumers with the support, choice, and expert guidance in the sometimes confusing and complex process of securing a home loan. Lendi will continue to develop its market leading technology and processes to deliver better customer experiences and outcomes via its platform, home loan consultant and specialist teams.

Lendi also announced that one of its long-term partners and shareholders, ANZi (a subsidiary of ANZ), had indicated that it is supportive in principle of the transaction, including the investment of an additional capital amount to the merged group. Approval of the transaction and investment of any additional capital by ANZi would be subject to the transaction terms and documentation being acceptable to ANZi, and receipt of ANZ group approvals and any necessary regulatory approvals. ANZi has indicated that it would welcome the opportunity to be represented on the Board of the merged group.

Ron Spector, Managing Director ANZi said “Lendi is at the forefront of the digitisation of the home loan market in Australia. We are excited by the opportunity of two great mortgage broker brands coming together to further this mission. We look forward to supporting the team in delivering this compelling customer proposition.”

Completion of the transaction is subject to ACCC approval and other customary conditions.

Completion is expected to occur by mid calendar year 2021.


Is there anything I need to do as an Aussie customer? 

No, nothing changes in the way our brokers, stores and home loan products operate. Both Aussie and Lendi are currently assessing how we can collectively bring more benefits to both Aussie and Lendi customers, and we will be sure to let you know if, and when this occurs.

Will my service or customer expectations be impacted?

There will be no changes to your service or experience. Your broker remains your broker and you will continue to receive the same assistance and support that you always have.

Will there be any changes to my Aussie Select, Aussie Elevate or Aussie Activate home loan?

No. There will be no changes to your Aussie home loan or the ways you engage with us as your lender. 

About Lendi

David Hyman and his co-founders, Sebastian Watkins, Martin Lam and Mark Kalajzich, started Lendi nearly eight years ago with a mission to change the way Australian get home loans by disrupting the status quo in the mortgage market. They saw an opportunity to use technology to drive better customer outcomes and experiences and Lendi has since grown to become Australia’s leading digital home loan platform. With more than $12 billion in loans settled since inception, Lendi has already carved out 1.2 per cent market share and manages over $7 billion in home loans through its team of more than 400 dedicated people across offices in Sydney, Melbourne, Brisbane, Perth and Manila.

Lendi helps customers compare, apply and settle their loan online while being fully supported by a team of home loan specialists. Lendi’s platform compares hundreds of customer data points against thousands of data points from its panel of more than 35 banks and lenders to provide customers with a tailored home loan recommendation that meets their needs and objectives and is in their best interests. For more information, please visit lendi.com.au.

About Aussie

With his nephew James by his side, Aussie was founded in 1992 by John Symond and was widely credited for bringing competition to the Australian home lending industry. For nearly 30 years, Aussie and its brokers have put progress within reach of more Australians, helping over 1.5 million customers with their home loan. Today, under the leadership of CEO James Symond, Aussie has the largest retail footprint of any mortgage broker brand in Australia, a loan book worth over $70 billion, a home loan market share of 5 per cent and a broker market share of almost 10% percent. Aussie’s broker network is expansive with almost over 970 brokers spanning across all states and territories, who can assist everyday Australians with home loan options from over 3,000 different products from over 20 lenders – including Aussie’s own branded home loans. For more information about Aussie, please visit Aussie.com.au.

Media enquiries

Caroline Raffan
Aussie | 0409 914 614