tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, July 19th, 9:36AM

Mortgages

Mortgage Rates Daily Commentary
Thursday 17 July 2025  Add your comment
Crunch time for credit rules – and the FSF isn’t pulling punches

Mortgage advisers aren’t the only ones tired of regulatory whiplash. Non-bank lenders are heading to Parliament on Monday with five fixes to stop the CCCFA from tying up borrowers and your business in unnecessary knots. [READ ON]

rss
Latest Headlines

Another non-bank lender enters mortgage arena

New Zealand’s non-bank mortgage lenders may not have achieved the success their Australian counterparts have, but that hasn’t deterred one new entrant.

Tuesday, April 30th 2002, 7:28AM

by Jenny Ruth

After working for others in the lending arena, from BNZ Finance to HSBC and Pioneer, Carl Woolston set up his own company called National Home Loans.

The business, which aims to source its funding from wholesalers Interstar and AMS, started early this year. Interstar has been particularly supportive, he says.

One estimate is that the non-bank mortgage lenders in New Zealand, who include traditional lenders such as Southland Building Society and relative newcomers such as Wizard, Elders and Cairns Lockie, have only about 5% of the market compared to about 15% for their Australian counterparts.

As Woolston sees it, one of the mistakes the non-bank sector here has made its trying to compete head on with the banks with standard products.

His strategy is to target those areas of the market which he thinks the banks don’t cater for particularly well. In particular, he is focusing on the self-employed.

"About 20% of New Zealanders are self employed, but the banks don’t offer products tailored to that part of the market," Woolston says.

He will also target property investors and people lacking sufficient credit history to satisfy the banks.

His marketing is targeted at professionals such as lawyers and accountants. The idea is that if he can gain the trust of a particular lawyer or accountant, they can recommend Woolston to their clients as an additional service at no cost to themselves.

"It’s very person marketing. We have to build credibility and rapport with the professional first before we get close to the client," he says. Woolston says his experience at HSBC, where he was a private client manager, is that most of his new business was referrals from existing clients and he’s hoping it will work the same way with his own business.

Woolston is also targeting professional associations whose members are likely to include a high proportion of self-employed people.

He has also trying to attract business from mortgage brokers and says he has already "enjoyed strong support from a couple of well established and reputable broker groups. They are important to us in that they have client bases we wouldn't otherwise be able to access."

So far, the business is himself and Eric Williams, who has a similar background, having worked at both HSBC and Pioneer, and two contracted credit managers.

If the business is to be successful, Woolston reckons it will have to build a mortgage book of $200 million or more and he is aiming to achieve that within three years.

« Mortgage borrowing accelerated in MarchWhy are NZ rates higher than those in Australia? »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.44 - - -
AIA - Go Home Loans 6.54 4.89 4.95 5.09
ANZ 6.49 5.55 5.55 5.69
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.95 4.95 5.09
ASB Bank 6.44 4.89 4.95 5.09
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime 6.90 - - -
Avanti Finance - Specialised 8.34 - - -
Basecorp Finance 7.15 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 5.99 5.69 5.69
BNZ - Mortgage One 6.54 - - -
BNZ - Rapid Repay 6.54 - - -
BNZ - Std 6.44 4.89 4.95 5.09
BNZ - TotalMoney 6.54 - - -
CFML 321 Loans 4.99 - - -
CFML Home Loans 6.70 - - -
CFML Prime Loans 7.20 - - -
CFML Standard Loans 7.99 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Lender Flt 1yr 2yr 3yr
Co-operative Bank - First Home Special - 4.85 - -
Co-operative Bank - Owner Occ 5.95 4.95 4.99 5.25
Co-operative Bank - Standard 5.95 5.45 5.49 5.75
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.29 5.19 -
First Credit Union Standard 6.94 5.79 5.49 -
Heartland Bank - Online 5.99 5.89 - -
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 7.45 5.90 5.80 -
ICBC 6.50 4.85 4.95 5.05
Kainga Ora 6.44 4.89 4.95 5.09
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 6.35 5.79 5.85 5.95
Kiwibank - Offset 6.35 - - -
Kiwibank Special - 4.89 4.95 5.15
Liberty 6.90 6.80 6.50 6.45
Nelson Building Society 6.94 4.99 4.93 -
Pepper Money Near Prime 6.85 - - -
Pepper Money Prime 6.29 - - -
Pepper Money Specialist 8.30 - - -
SBS Bank 6.49 5.49 5.55 5.69
SBS Bank Special - 4.89 4.95 5.09
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB 3.94 - - -
SBS FirstHome Combo - 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 8.64 - - -
TSB Bank 7.19 5.69 5.75 6.09
TSB Special 6.39 4.89 4.95 5.29
Unity First Home Buyer special - 4.29 - -
Unity Special 6.64 4.99 4.99 -
Unity Standard 6.64 5.79 5.79 -
Wairarapa Building Society 6.75 5.09 4.95 -
Westpac 6.59 5.49 5.55 5.59
Lender Flt 1yr 2yr 3yr
Westpac Choices Everyday 6.69 - - -
Westpac Offset 6.59 - - -
Westpac Special - 4.89 4.95 4.99
Median 6.56 4.99 4.99 5.15

Last updated: 10 July 2025 4:59pm

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
From
To
For

To graph multiple lenders, hold down Ctrl key while clicking in list box

Also compare rates to OCR
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com