In its latest financial results, the BNZ says 28.4% of its mortgage book, which sits at $52.7 billion, has come via mortgage advisers.
Also the flow of business it gets through this channel each six month period has been growing and in the six months to September 30 the number was up to 35.3%
Last year, flows were 31.2%, and in the following period to March this year it was 32.1%.
However, that may well be impacted by its recent decision to apply a debt-to-income ratio to all deals lodged by advisers.
Recently appointed chief executive Dan Huggins was asked by TMM why the DTIs were put on the broker channel but not on its proprietary branch channel.
He said "we look at it the proprietary channel."
"We are calculating them in our proprietary channel," but they are not being applied as it will do deals outside the DTI limits placed on advisers.
He said putting DTIs on advisers "was our decision."
When asked if he thought advisers would take deals to other lenders he said, "they can choose to do that."
"We are attuned to the fact that that may happen."
According to TMM's mortgage adviser survey BNZ is the least preferred of the four big bank lenders sitting well behind third-placed ASB.
The survey is currently open and you can have your say here.
