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Pepper writes 600 NZ loans in first year

Australian non-bank Pepper Money provided 600 home loans in its first year in New Zealand, as it targets expansion over the next 12 months. 

Thursday, May 21st 2020, 10:16AM

The non-bank giant made its first steps into New Zealand in May last year, bolstering its ranks with NZ hires and forming a distribution partnership deal with adviser group Astute Financial.

The group launched its white label Ascenteon product a year ago this week, through Astute. It has since widened its offering to advisers across the country.

On the anniversary of the launch, Aaron Milburn, Pepper's head of New Zealand, told TMM Online the firm has supported "over 600 Kiwi families", with all of the loans distributed through the adviser channel.

Milburn said the first year had been "very successful", and added the firm would look to expand to "other asset classes" in the years ahead. In Australia, Pepper offers personal loans, car finance, and commercial lending.

"We always look at every opportunity," Milburn said. He added the group would make "further announcements in the coming months" related to its mortgage products.

Pepper re-affirmed its commitment to the New Zealand market during Covid-19. 

Milburn said Pepper was in NZ for the long-haul, with growth planned in Northland and the South Island, and would not be deterred by the Covid-19 outbreak and financial downturn.

"We are not here for the short-term, we are here to grow. We were the first lender in Australia and New Zealand to protect trail," he said. "We have an all-Kiwi team, we've been making hires in the north and south island, and we're here for the long term."

Milburn says Pepper is keen to promote advisers and help customers realise their financing needs.

"No Kiwis should be sitting at home and not understanding their financing options. We need to tell the New Zealand public about the awesome job advisers do. Advisers' percentage of the mortgage market, at under 40%, is way below what it should be. For us, it's all about promoting advisers."

Tags: home loans Lending Pepper Money

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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

Last updated: 30 October 2024 9:36am

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