People's bank steps into home loan gap

Sunday 29 August 2004

KiwiBank has signed a deal with Bluestone Mortgages to provide home loans for high-risk customers it is not prepared to lend to itself.

By The Landlord

Under the agreement, customers who do not meet Kiwibank criteria will be referred to Bluestone, netting the bank a commission of about 1% a time.

The bank's strategy behind the plan is to help customers get mortgages, while keeping their everyday banking such as deposit accounts and credit cards.

Kiwibank then monitors the Bluestone loans and when the borrower has built an acceptable credit record, Kiwibank will offer to refinance the loans.

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.


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.

Site by PHP Developer