Lendi was “surprised to read” Domain’s stake in Domain Home Loans is for sale.The boss of one of Australia’s biggest mortgage brokers, Lendi Group, has unleashed an extraordinary broadside at Domain after the real estate platform said it was “actively pursuing an exit” from their joint venture, Domain Home Loans.
“Lendi Group remains committed to upholding our extensive obligations in the Domain Home Loans shareholders agreement, and expects that Domain does the same.”Lendi Group was “surprised to read Domain announced to the market its stake in Domain Home Loans is for sale and it is pursuing other opportunities outside of the DHL joint venture”.
Domain said the venture was losing it millions, reporting a loss of $7.3 million in 2023 off $8.8 million in revenue, and a $2.1 million loss in 2022 off $9.2 million. Mr Pellegrino said Domain’s 60 per cent of DHL was up for sale, but it’s unclear who would buy it.