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Lenders become brokers

In yet another case of lenders jumping the fence to join the ranks of mortgage brokers, former New Zealand manager for Australian wholesale lender Interstar Raoul Collings and local lending manager Joyti Singh are branching out to form a new broking firm, Mortgage Providers NZ.

Wednesday, January 7th 2004, 9:57PM

by The Landlord

Collings says there's "a huge growth opportunity," in broking. Currently brokers in New Zealand account for about 28% of the market while in Australia and the United States brokers account for about 40% and 82% of the market respectively.

Collings says his firm won’t be trying to be "all things to all borrowers."

Instead, they will target particular niches, including the self-employed.

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build ▼5.94 - - -
AIA - Go Home Loans 8.49 ▼6.45 ▼5.89 ▼5.79
ANZ 8.39 ▼7.05 ▼6.59 ▼6.49
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▼6.45 ▼5.99 ▼5.89
ASB Bank 8.39 ▼6.45 ▼5.89 ▼5.79
ASB Better Homes Top Up - - - 1.00
Avanti Finance ▼8.90 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - ▼6.55 ▼5.99 ▼5.89
BNZ - Mortgage One 8.44 - - -
BNZ - Rapid Repay 8.44 - - -
BNZ - Std 8.44 ▼6.55 ▼5.99 ▼5.89
BNZ - TotalMoney 8.44 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼6.19 - -
Co-operative Bank - Owner Occ ▼8.15 ▼6.39 ▼5.99 5.99
Co-operative Bank - Standard ▼8.15 ▼6.89 ▼6.49 6.49
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.99 6.60 -
First Credit Union Standard 8.50 7.59 7.20 -
Heartland Bank - Online 7.99 6.69 6.35 6.15
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.35 7.00 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 ▼6.45 ▼5.99 ▼5.89
Kainga Ora 8.64 7.45 7.09 6.89
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.25 ▼7.35 ▼6.89 ▼6.69
Kiwibank - Offset 8.25 - - -
Kiwibank Special - ▼6.45 ▼5.99 ▼5.89
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.14 6.79 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank ▼8.49 ▼7.19 ▼6.49 ▼6.49
SBS Bank Special - ▼6.59 ▼5.89 ▼5.89
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB - - - -
SBS FirstHome Combo ▼5.94 ▼5.59 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank ▼9.19 7.49 7.05 6.79
TSB Special ▼8.39 6.69 6.25 5.99
Unity 8.64 6.70 6.49 -
Unity First Home Buyer special - 6.20 - -
Wairarapa Building Society 8.60 ▼6.80 ▼6.50 -
Westpac 8.39 7.45 6.79 6.59
Lender Flt 1yr 2yr 3yr
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Westpac Special - 6.85 6.19 5.99
Median 8.46 6.75 6.49 5.99

Last updated: 22 August 2024 9:14am

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