Cheap leads attract Mortgage Choice

Mortgage Choice has bought Helpmechoose.com.au, a website that generates leads for providers of home loans and medical insurance, it said on Friday.

Mitson Holdings is the vendor. However, Mitson has not sold its related business - known as Lead to Sales - that sells leads to brokers for as little as $5 each.

Adir Shiffman, the principal of Help Me Choose, told Smart Company in August, "[The revenue] run rate's approaching $3 million per annum and we think that we'll do substantially more than that this financial year.

"We've tripled revenue over the course of the last financial year, the one that's just ended, and we think we'll pretty much do the same again this year."

Mortgage Choice told the ASX that the website generated "tens of thousands of home loan leads annually."