Owning your own home is one of the biggest financial challenges of your life, and there are so many home loans out there it's difficult to get to the finish line. But now it's a one-horse race, thanks to Dream Run.
We gather all the best home loan deals in one place, compare them for you, and clear the way between you and your ideal home loan - so you can fly unhindered down the home straight. It's a Dream Run. But there's more behind the name...
Dream Run founder Glen Sprat wanted to buy a racehorse, but he still hadn't paid off his home loan - and his wife insisted they paid it off before investing in a horse.
Glen found the wait frustrating, and while he got his horse eventually, he hated having to choose between the dream house and the dream horse. And so the idea was born...
The house with the horse
Dream Run is the first mortgage broker in Australia (and the world) who are game enough to give you the chance to join in the fun of racing a top quality racehorse – just for taking out a home loan.
And not only is it an exciting opportunity, but it’s totally risk-free and potentially profitable – and for no extra charge. Instead of pocketing the commission the lenders pay us, we invest it in horses and offer you a share.
Simply borrow more than $250,000 from any one of our stable of lenders and we’ll give you a share in a racehorse. What’s more, Dream Run pays for all the costs associated with racing and training the horse. While you and the other owners get to split 2/3rds of the horse’s prize money.
So apart from the serious business of owning your dream home, Dream Run also lets you indulge in a little fun - the dream where you're the owner of a winning racehorse.
Who's in the saddle?
Glen Spratt is a pioneer in the Australian mortgage market. He founded the hugely successful mortgage businesses Wizard Home Loans and Mortgageport – and now the first-of-its-kind Dream Run.
Glen has worked in the banking and mortgage industry for over 25 years, is a qualified accountant, has a Masters in Applied Finance and is a Fellow of The Financial Services Institute of Australasia. He’s also an accredited mortgage consultant with the MIAA and a Justice of the Peace.
Professional golfer Paul Gow also has a vested interest in Dream Run.
Each racehorse bought by Dream Run will belong to a syndicate made up of a number of borrowers. That number will depend on the cost of the horse. As a guide, a $200,000 horse will typically be shared by a syndicate of 40.
Dream Run buys the horse and leases it to the syndicate for three years. We cover all the running costs associated with training, racing, stabling and caring for the horse – as well as any liability costs.
Once the syndicate is fully subscribed, eg 40 home loans have been written, the members of the syndicate suggest names for the horse and the name is decided by a vote. Syndicate members also receive special Race Day privileges, so you can enjoy the thrill of watching your horse compete.
At the end of every year, 2/3rds of the horse’s net prize money is split evenly split between each of the syndicate members. All details of the syndicate are provided in the syndication agreement
Find out more about Paul.
