KiwiSaver an option for mortgage advisers seeking ongoing income, provider says
Mortgage advisers looking for another stream of income as trail commission becomes harder to find are looking at their options in KiwiSaver, one provider says.
Brand awareness and tech the big issues for merged banks
Technology is going to be the key for the proposed TSB Heartland Bank to become a major challenger of scale with a regional focus.
ANZ CEO to retire
ANZ NZ CEO Antonia Watson to retire; Ben Kelleher to take over.
Plenty of interest in development and investment finance
Despite a subdued residential housing market, Pallas Capital has lent $1.29 billion in investment and construction loans as enquiry rises.
Link appoints a new general manager
Adviser training boss takes the helm of Link Financial Group (LFG).
Mortgage lending dips
The latest Reserve Bank figures show new mortgage lending dropped to $8.3 billion in April from $8.7 billion in March, but up 3.5% from $8 billion in the same month last year.
Which banks did the most lending in 1st quarter; and who slowed down
Kiwibank appeared to take its foot off the accelerator on mortgage lending in the March quarter after a string of quarters of lending above its market share which reached almost 8% at March 31.
More stories
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More borrowers take out ever bigger mortgages
More than 18,000 borrowers have mortgages of more than $2 million, a number that has grown rapidly – up from 5,000 in 2017, 6,000 in 2019 and 13,000 in 2022.
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Advocacy over shouting leads the way
The demise of the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) is no surprise to Hamish Patel, Financial Advice New Zealand (FANZ) mortgage and lending director.
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61 mortgage fraud charges filed
A raft of mortgage fraud charges against six people have been filed by the FMA in the Manukau District Court.
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TSB Heartland to become NZ's sixth largest home loan provider
If all goes to plan, Heartland Group’s purchase of TSB Bank will result in home loans becoming 44% of the combined group’s $15.1 billion of gross receivables and 54% of the New Zealand bank’s gross receivables, according to the proforma inflation Heartland has provided.
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Heartland to buy TSB
Heartland Group is taking over TSB paying the Taranaki-based bank $620 million in cash, shares and a $264 million two-year vendor loan.
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FAMNZ dead
Two years after launching the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) is shutting up shop.
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Lending expansion and new product to bolster Finbase
Finbase has launched a new 30-year mortgage product after a $150 million capital partnership deal with ASX-listed Challenger.
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Aussie private credit deal for Finbase
Australia listed Challenger has finalised a $150 million capital partnership with Auckland-based mortgage lender Finbase
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Meet Helen Zheng, Business Development Manager at Xceda
Xceda is pleased to introduce Helen Zheng, Business Development Manager, supporting advisers with lending submissions, credit guidance, adviser education, and early stage deal structuring.
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RBNZ predicts rising mortgage rates
The Reserve Bank says it expects average mortgage rates to increase from about 4.9% in March this year to about 5.4% by March 2027.
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Divided RBNZ keeps the OCR on hold
The Reserve Bank is projecting its official cash rate (OCR) will probably rise to 2.5% in the September quarter, although there's still a chance of an earlier hike.
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OCR announcement: What the RBNZ said
The Monetary Policy Committee today voted to hold the OCR at 2.25%.
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Prediction for weighty rate rises on the horizon
There are fears some hefty mortgage interest rate rises coming based on recent movements in wholesale rates.
