Asteron to enter mortgage market

Monday 26 January 2004

Asteron, formerly Royal & SunAlliance Financial Services and a subsidiary of listed insurance company Promina, is planning to enter the mortgage lending market early in the second quarter of this year.

By The Landlord

Sales and marketing manager Tony Boucher says his company is looking to "white label" someone else’s offering, contracting another organisation to provide the loan products under the Asteron brand.

"It’s an exciting opportunity from our point of view. Let’s face it, there’s been an enormous growth in debt in New Zealand" rather than growth in savings products.

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