Climate change – a threatening problem for lenders
A looming problem for mortgage advisers over the next few years and coming decades is going to be property insurance, Mark Solomon, LifeDirect managing director says.
New line of credit business offering
Another small business lender adds line of credit product.
Economists hedge their OCR bets
In just a week the RBNZ will make another decision on the OCR and the BNZ says 0.25%,0.50% and 0.75% cuts are all options.
Mortgages harder to get over the line
Strung out bank mortgage application processing times are frustrating advisers.
Private credit rewriting mortgage and business borrowing
Private credit is reshaping lending in New Zealand as more people turn away from banks who can’t and, in many cases, won’t offer mortgage flexibility.
Small mortgage blip for Basecorp in tough year
After a tough year for the non-bank sector, Basecorp Finance feels fortunate the volume of funds it has lent on mortgages dipped to only $1.1 billion from $1.2 billion in the previous year in the context of what the industry has done.
A big target for newly merged company
Wellington-based LifeDirect expects to be writing $1 billion in mortgages every year by 2026 after the merger last month of majority shareholder Mark Solomon’s other businesses Loan Market Capital & Coast and Insurance Market into the parent company.
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ASB insists it isn't making excess profits
ASB Bank chief executive Vittoria Shortt shrugged off suggestions that her bank is making excess profits in New Zealand.
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Dosh to launch a competitive digital home loan
Fintech start-up Dosh is planning to launch a digital home loan offering soon and it will be one of the most disruptive of the major banks in 2025, Dosh co-founder Shane Marsh told parliament's finance and expenditure committee.
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Expectations for inflation and big OCR cut in full flight
Inflation firmly under control and the OCR to fall sharply next year are expectations business leaders have laid out in the Reserve Bank’s latest quarterly survey of expectations.
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First home buyers the most likely to use a mortgage adviser
As mortgage stress becomes more prevalent borrowers are turning to mortgage advisers to help manage their finance applications, a new FAMNZ report shows.
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Job insecurity remains big concern for mortgage holders
While unemployment is rising and is a major concern for mortgage holders and potential home buyers, it is not forcing first home buyers out of the market.
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New customers locked out of ASB’s pre-approvals
ASB has closed pre-approvals to new customers until November 22.
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Acquisition opens up market for NZ Mortgages
As the country’s stock of mortgages continues to grow, Christchurch-based NZ Mortgages, now majority owned by Squirrel, is planning to be writing $1 billion of the $364.5 billion New Zealand total every year.
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Percentage of mortgages originated by advisers lifts sharply
Kiwibank has lifted its home loans business to now have an 8% market share, with about 64% of its mortgage business originated by advisers.
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Banks asses what stressors could destroy capital buffers
The Reserve Bank has had 13 banks design “severe but plausible” stress tests that would cause their capital to drop below regulatory minimums and the results show that it would take a set of more severe stresses than RBNZ's own stress scenarios.
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Advisers wrote 63% of Westpac's new mortgages in latest year
Mortgage advisers accounted for 63% of Westpac's new mortgage lending in the year ended September, the bank's chief executive Catherine McGrath told TMMO.
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Mortgage advisers account for 53.8% of Westpac's mortgages
Mortgage advisers now account for 53.8% of Westpac New Zealand's mortgage book, up from 53% in March and from 51.9% in September last year.
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LifeDirect Expands to Offer Nationwide Mortgage Service
Loan Market Capital & Coast and Insurance Market have been merged into LifeDirect to offer a nationwide mortgage service.
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Rise in households struggling with mortgage repayments
Mortgage arrears continue to rise but are still low by historical levels.
