New brand and direction for large mortgage advice business

After 11 years as first iRefi and then mortgagehq, one of the country’s bigger mortgage advice businesses writing about $750 million in mortgages last year, has rebranded to MHQ, will have new owners from April 1 and a new take on helping clients create wealth.

Simon McDonald and Zhiyang Cheng are buying the business from managing director Blandon Leung after several years with the mortgagehq and the ambition to be the majority shareholders and owners.

“We want more control on how advice is being provided,” McDonald told TMM.

The business was set up in 2015 by Andrew Malcolm and Leung. After a difference over its direction, Malcolm was going to buy out Leung but after that deal dragged out, he decided to concentrate on his other businesses.