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: Tuesday, July 15th, 9:14AM

Mortgages

Mortgage Rates Daily Commentary
Monday 14 July 2025  Add your comment
Pausing while pass through of interest rate cuts catches up

Adding to the RBNZ’s cautious OCR approach and pause on cuts this month is the full impact of the large interest rate reductions over the past year is yet to be felt. [READ ON]

rss
Latest Headlines

Liberty may allow Pero's to be privatised

Liberty Financial would be prepared to consider allowing New Zealand Finance Holdings to take Mike Pero Mortgages private if that's in the best interests of the mortgage broking company, says Liberty founder Sherman Ma.

Wednesday, February 15th 2006, 4:50AM

by Jenny Ruth

Earlier this month, Liberty snagged a 10.1% stake in Mike Pero Mortgages (MPM) for $1.10 a share after a stand in the market.

New Zealand Finance gained 55% of MPM for 82 cents a share after a takeover bid last year. In late January, it launched a second takeover bid for the minorities priced at $1.05 a share.

While NZ Finance’s offer isn’t conditional on passing the 90% threshold which would allow it to compulsorily acquire the remaining shares, managing director John Callaghan has made it clear he would prefer not to incur the costs of keeping MPM listed - New Zealand Finance is also a listed company.

"If being a public company is a distraction and not a benefit to the company then take it private. There's no reason why we can't vote to take the company private," Ma says.

"That may be the direction further discussions lead. It's what's going to be in the best interests of not only Mike Pero the business but also its valued network of franchisees."

While there are downsides, including costs, in being a public company, there are also benefits including providing greater comfort to MPM customers, Ma says.

Liberty already sells its non-conforming mortgages through MPM and through New Zealand Finance's mortgage broking arms, New Zealand Mortgage Finance and Approved Mortgage Brokers.

"We have a good relationship with both companies," Ma says. Liberty sees MPM as a "very durable" business which has been further strengthened by New Zealand Finance's involvement and Liberty can "bring some enormous value to the enterprise," he says.

This isn't the first time Liberty has taken such a stake in a "business partner" and it has a number of similar relationships in Australia and it is speaking to several in New Zealand at the moment, Ma says. He wouldn't disclose which other businesses Liberty has stakes in.

"We're just looking at ways our partners can grow and accelerate their businesses. We're always considering more," Ma says. Liberty is positive on the future of mortgage broking and "what better way to support it than by putting your own capital alongside the companies you work with."

It isn't important for Liberty to have control in such situations, he says. While Callaghan has said he expects Liberty to seek a seat on MPM's board, Ma says that isn't a major objective.

« The rate war continuesASB pleased with growth of mortgage book »

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