Mortgage Lab takes on new advisers

Mortgage Lab has taken on five new advisers since March, bringing its total strength to 26.

Chief executive Rupert Gough says most of the staff are new to the industry and have just completed their Level Five certification.  They have a range of backgrounds but generally have a “passion for property” and in some cases might already have worked in an adviser firm in an admin capacity.

The new staff are in Manawatu, Hamilton and Rotorua, with two in Auckland.

Gough said the complexity of borrowing money these days was one of the reasons for the increased need for more staff.

“If finance is really easy, people will just walk into a (bank) branch. But when finance is really hard, that's when you need an adviser.” he said.

Gough was referring to waves of regulation that have swept over the industry, such as the Credit Contracts and Consumer Finance Act (CCCFA).

These things made the whole process of borrowing money extremely complicated, meaning that ordinary borrowers often needed help.

“If anything, it is a great time for mortgage advisers.”

The Mortgage Lab is a nationwide group of advisers, headquartered in Tauranga. It has been in existence for six years.