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Brokers having some influence on market share

The lenders mortgage brokers recommend their clients don’t necessarily follow the same pattern as the lenders’ overall market shares, suggesting that brokers are having at least some influence in determining those market shares.

Monday, June 21st 2004

The latest KPMG survey of financial institutions showed National Bank had the largest share of the New Zealand home loans market with a $20.5 billion mortgage book, followed by Westpac Bank, then ASB Bank, ANZ Bank and Bank of New Zealand.

Ray Hair, national sales manager at mortgage broking aggregator Plan Australia and trans Tasman manager for Plan New Zealand, told last month’s New Zealand annual conference that his organisation’s lending patterns are significantly different.

In the year ended March, $262 million or 23.9% of loans written by Plan New Zealand members were with ASB Bank, Hair says. Westpac got $245 million or 22.3%, ANZ got $203 million or 18.6% and National Bank got $173 million or 15.8%.

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Top Mortgage Rates

Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
TSB Special 6.75
Westpac Special 6.75
China Construction Bank 6.75
ASB Bank 6.75
ICBC 6.75
AIA - Go Home Loans 6.75
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Co-operative Bank - Owner Occ 6.79
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SBS Bank Special 6.55
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Co-operative Bank - Owner Occ 6.55
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Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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