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Newpark partners with Real Estate Together

Adviser group Newpark Home Loans has teamed up with real estate specialist Martin Dunn to help first home buyers onto the property ladder.

Under a new partnership deal, Newpark advisers will have exclusive access to Dunn's recently-launched venture Real Estate Together. Real Estate Together, launched this month, enables FHBs to take a slice of equity in a home for as little as $50,000.

Real Estate Together is aimed at people who can't afford a deposit. The company sources and buys properties on behalf of first home buyers, brings in investor cash, and allows first home buyers to chip in.

Under the scheme, properties are rented out to the FHB, with the FHB taking a slice of the equity. Real Estate Together will primarily buy brick and tile properties in Auckland.

Under the Newpark partnership deal, advisers will be able to refer business to Real Estate Together for a referral fee, and arrange loan financing for their clients.

The deal will be unveiled at Newpark's upcoming roadshow.

Andrew Scott, general manager of Newpark Home Loans, said the partnership has been given approval by the FMA.

"Under this deal, our brokers will effectively be the distribution force for Real Estate Together," he added.

Scott said Dunn's business would source "well-located brick and tile units" and would also look at properties in Hamilton. 

"He [Dunn] knows which areas to buy in, and it's a great mechanism for young couples who may have been to 15 auctions and been disheartened. They don't want to pay for another building inspection and lose at auction. Martin comes along, buys up front, and then sorts the legal arrangements for clients to buy into the property."

"He's buying in areas that will get net returns over the next 8-10 years. He's highly respected in the market," Scott added.

Newpark is not taking a slice of the referral fee from advisers for Real Estate Together referrals, Scott said. 

"It's just something we have facilitated for our membership. We're creating opportunities to help advisers grow their business," he added.

 

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