If you thought Dominfax was bad before…

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Then prepare to gird your loins:

Property classifieds business Domain is pushing into the home loan market with the launch of a mortgage broking service.

The business, Domain Loan Finder, is a joint venture with online mortgage broker Lendi. Domain retains 60 per cent ownership of the joint venture and the amount invested has not been revealed.

Domain chief executive Anthony Catalano said the extension into financial services would compliment the existing suite of businesses the company offered throughout the property cycle from pre-purchase research to selling.

“Mortgage broking is a $2 billion a year business” Mr Catalano said.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.