E-Loan announced
Thursday that its UK subsidiary E-Loan, Ltd. (UK) has acquired
Flexemortgage.com, the UK’s
leading
online source of information about flexible mortgages.
E-Loan also announced that Andrew Armishaw will head its UK
operations. A former CEO of the branchless bank First Direct, he took
the bank online and was instrumental in its rapid growth to a customer
base of over a million.
“I am a believer in the Internet’s ability to radically improve the
consumer experience for financial products,” said Andrew Armishaw.
“The Internet shifts the power to the consumer, providing access to
information that gives the consumer control of these important financial
decisions. The addition of flexemortgage.com to E-Loan Ltd. will provide
consumers with the most thorough information available on alternatives
in the UK. From launch, E-Loan Ltd. will give consumers the choice and
control that they deserve.”
E-Loan Ltd. (UK) is a joint venture between leading online lending company
E-Loan, of Dublin, California, and eVentures — which is itself half-owned
by SoftBank in the U.S. and epartners in the UK.
Launched in June, Flexemortgage.com acts as an intermediary for
the increasingly popular flexible mortgage deals that are available in
the UK. It claims to have generated over £180 million ($290 million)
of potential new business for its panel of leading flexible mortgage
providers.