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Australian Central settles on Mortgage Find

Australian Cental has now officially acquired the $310 million Mortgage Find portfolio from Royal Automobile Club of WA (RACWA), after a month long due diligence process.Operating since 2003, the 650,000 strong RACWA membership base had not sufficiently used the service - hence the sale.The portfolio contains around 1,700 mortgages, domiciled in Perth and Western Australia.Five staff from Mortgage Find have accepted positions within the ACCU Subiaco advice centre.RACWA has no plans to sell the successful personal loans business. Australian Central's mortgage book is around $2.2 billion.

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