Wizard Home Loans sale expected
GE Money is reportedly expected to announce the sale of struggling Wizard Home Loans, at the NSW state franchise meeting in Parramatta, on Wednesday. Wizard is one of the biggest non-bank lenders, holding about 25 per cent of the total home loan market, which includes banks and non-banks. GE bought Wizard for an estimated $500 million four years ago. Tighter credit policies and high interest rates have triggered the sale or collapse of some Wizard branches. Elsewhere in Parramatta, the Beat Home Loans branch, in Church Street, has not been trading for some months
Labels: GE Money. Wizard
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