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Avanti targets adviser channel with BDM hire

Non-bank lender Avanti has promised more support for the adviser channel following the appointment of a new BDM, as it expands its range of products.

Friday, April 5th 2019, 10:06AM

The lender has hired Graham Clarke, former National Sales Manager at Mortgage Link, as its new Business Development Manager for the north island, as it aims to build a greater number of partnerships with advisers.

The new hire comes as the business prepares to move in early to new premises on 33 Broadway in Auckland, a new development also occupied by Mercury Energy. The group has employed an extra 30 people over the past few years, due to increased demand. Avanti has also secured new funding over the past year to support a series of acquisitions over the past five months.

Stephen Massey, head of sales at Avanti, told TMM Online that the developments were part of a concerted effort to build its adviser channel and raise awareness. "Graham has a strong adviser focus which is hugely important to us, as we look to grow. It is about having a stronger presence, supporting the adviser channel and helping them learn more about Avanti."

Clarke worked for Mortgage Link between 2017-2019 and was previously BDM for NZCU Baywide, according to his LinkedIn profile. Before that, he worked as a mortgage lender for TSB Bank and Westpac across Napier, Hastings, and Palmerston North. He is set to meet with adviser groups and brokerages across the north island to build relationships, Avanti said.

Massey said Avanti is keen to grow its near-prime mortgage business through lower long-term rates. Avanti is also targeting near-prime vehicle finance lending, following its acquisition of Branded Financial Services at the end of last year. "We have been doing vehicle financing for 20 years, but this gives us exposure to first tier vehicle lending."

Avanti also entered the insurance premium funding market with the acquisition of Bexhill Funding Group in January. Bexhill allows advisers to work out flexible premium funding arrangements with their clients. Massey says it is another growth area for Avanti. "Our goal is to be recognised as the non-bank lender of choice, and to achieve that, we have expanded our product suite since the end of last year."

Avanti has sourced more funding for its growing product range over the past year. In late January, an unnamed private equity firm took a minority stake in the business, Massey said. Meanwhile, Avanti's SME lending platform, Get Capital, received a securitisation funding line from BNZ. "It's our first foray into having a second bank in the mix, and it's an important step for the business," Massey said.

 

Tags: Avanti non-bank lenders

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 5.44 - - -
AIA - Go Home Loans 7.99 5.99 5.69 5.69
ANZ 7.89 6.59 6.29 6.29
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.99 5.69 5.69
ASB Bank 7.89 5.99 5.69 5.69
ASB Better Homes Top Up - - - 1.00
Avanti Finance 8.40 - - -
Basecorp Finance 9.60 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.94 - - -
BNZ - Rapid Repay 7.94 - - -
BNZ - Std 7.94 5.99 5.69 5.69
BNZ - TotalMoney 7.94 - - -
CFML 321 Loans 6.20 - - -
CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 5.79 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 7.65 5.99 5.75 5.69
Co-operative Bank - Standard 7.65 6.49 6.25 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.40 6.10 -
First Credit Union Standard 8.50 7.00 6.70 -
Heartland Bank - Online 7.49 ▼5.65 ▼5.55 ▼5.55
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.00 6.50 -
ICBC 7.49 5.99 5.65 5.59
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 7.75 6.89 6.59 6.49
Kiwibank - Offset 8.25 - - -
Kiwibank Special 7.75 5.99 5.69 5.69
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 8.44 ▼6.39 ▼6.09 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 7.99 6.95 6.29 6.29
SBS Bank Special - ▼6.15 5.69 5.69
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 5.44 ▼5.15 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.75 - - -
TSB Bank 8.69 6.79 6.49 6.49
TSB Special 7.89 5.99 5.69 5.69
Unity ▼7.64 5.99 5.69 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society 8.50 ▼6.19 ▼5.79 -
Westpac 8.39 6.89 6.39 6.39
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 6.29 5.79 5.79
Median 7.99 6.17 5.79 5.69

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