Lenders become brokers
Wednesday 7 January 2004
In yet another case of lenders jumping the fence to join the ranks of mortgage brokers, former New Zealand manager for Australian wholesale lender Interstar Raoul Collings and local lending manager Joyti Singh are branching out to form a new broking firm, Mortgage Providers NZ.
By The Landlord
Collings says there's "a huge growth opportunity," in broking. Currently brokers in New Zealand account for about 28% of the market while in Australia and the United States brokers account for about 40% and 82% of the market respectively.Collings says his firm won’t be trying to be "all things to all borrowers."
Instead, they will target particular niches, including the self-employed.
Read More - Opens in a new window
Commenting is closed
Property News
Return to market form
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
House Prices
No stopping Capital price rises
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Commercial
NZ proptech start-up scores major investor
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
Mortgages
LVR limits slow down investors
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
