NZ Adviser

As New Zealand's lending landscape evolves, private credit is becoming a vital complement to traditional banking, providing flexible financing solutions for borrowers, investors, and advisers. The First Mortgage Trust team—Paul Bendall, Phil Bennett, Sue Griffiths, and Bruce Smith—share their insights into how this shift is shaping the future of lending in the region. https://hubs.la/Q02ZPxlG0 hashtag#PrivateCredit hashtag#LendingSolutions hashtag#FirstMortgageTrust hashtag#BorrowingOptions

Major banks Bank of New Zealand and Westpac New Zealand have moved swiftly to cut home loan rates after the Reserve Bank of New Zealand lowered the official cash rate by 50 basis points yesterday to 4.25%. BNZ has passed on the full 0.5% cut for its standard variable home loans, with executive of customer, products and services Karna Luke saying it was a welcome decision for mortgageholders as Christmas approached. Westpac general manager of product, sustainability and marketing Sarah Hearn said the bank's 50bp cut to its floating home loan rates would bring further relief for homeowners. Read the article here: https://lnkd.in/gGQdWAY7 #interestrates #cashrate #homeloans #loanrates #mortgageindustry #mortgageadviser #bankingindustry

Ongoing interest rate cuts will change the financial landscape so mortgage advisers need to be proactive, plan and prepare so they can help their customers navigate a changing market, says Finsure NZ. In this business update, country manager Jenny Campbell talks how about digital marketing tools and virtual assistants can assist advisers when gearing up for a boost in lending activity and enhanced conversations with clients: https://lnkd.in/gZ9kYmXs #mortgageadviser #mortgageindustry #interestrates #ratecuts #marketing #techtools

The official cash rate has dropped 50 basis points, to 4.25%, the Reserve Bank has announced. Daniel Lipman, director and adviser at Blueprint Finance NZ and Adrian Dale, mortgage adviser at Trilogy Financial Solutions NZ Ltd comment on the impact on mortgage borrowers and Nick Tuffley, chief economist at ASB Bank discusses what the latest move means for house price growth. Read the full story below. #interestrates #mortgagerates #officialcashrate #homeloanrates https://lnkd.in/g-DjNw7T

The NZ Institute of Economic Research (NZIER)'s monetary policy shadow board has recommended the Reserve Bank of New Zealand reduce the official cash rate by 0.50%, bringing the rate down to 4.25%, when it meets tomorrow. NZIER senior economist Ting (Yiting) Huang, ASB Bank, chief economist Nick Tuffley, Kiwibank economists Jarrod Kerr, Mary Jo Vergara, and Sabrina Delgado, Westpac New Zealand senior economist Michael Gordon, share their views on the OCR. Read the full story here: https://lnkd.in/gWugsTFU #cashrate #interestrates #officialcashrate #economicdata #bankingindustry #mortgagerates #homeloans

Every mortgage adviser knows that time is money, and just how much time administration tasks can take, especially now that lending activity is ramping up with the RBNZ cutting the cash rate. In this business update, Finsure NZ country manager Jenny Campbell highlights how Finsure's new Virtual Assistant program can save advisers time and free them up for client consultations. The program hires an employee on behalf of the adviser to manage loan administration tasks and engage with clients to ensure all relevant information is collected for loan processing. You can read more about the Finsure Virtual Assistant program here: https://lnkd.in/giN4Nb5j #virtualassistant #administrativetasks #mortgageindustry #mortgageadvisers #timesaver

NZ Adviser's latest Broker in Focus profiles Trish Seymour, a mortgage adviser at Youm, based in Palmerston North. Seymour joined the brokerage, (formerly known as Mortgage Link and Mortgage Connect) as a receptionist and adviser support in 2011. In 2020, Seymour became a mortgage adviser and hasn't looked back, focusing on building relationships and providing personalised lending solutions for her clients. Read the article here: https://lnkd.in/gMb5Zxvq #mortgageadviser #mortgageindustry #homeloans #lending

Mortgage advisers are increasingly turning to non-bank lenders such as First Mortgage Trust to offer a greater range of lending options to their clients, especially those that don't met the rigid criteria set by the banks. The private credit sector in New Zealand is growing and FMT enjoys strong partnerships with advisers with 70% of its loans coming via the adviser channel. The non-bank understands the important role it plays in providing advisers and their clients a personal and flexible approach to their finance needs, backed by a highly skilled and experienced team, which includes FMT CEO Paul Bendall; head of lending Phil Bennett; operations manager Sue Griffiths; and strategic partnership manager Bruce Smith. Read on to learn about how partnering with FMT is a valuable addition to a broker's toolkit: https://lnkd.in/gsh7ghSA #nonbanklender #privatecredit #nonbank #lending #firstmortgage #propertyloans #commerciallending #constructionloans

FAMNZ (the Finance and Mortgage Advisers Association of New Zealand) has criticised banks for what it calls extended turnaround times for home loan applications submitted by advisers compared to those coming directly from borrowers. FAMNZ country manager Leigh Hodgetts said the wait times were unacceptable and accused lenders of taking for granted the more than 50% of consumers who used the services of a mortgage adviser for their loans. Hodgetts said the planned to meet senior bank officials to discuss these issues. She also urged mortgage advisers to join FAMNZ to strengthen the sector's collective voice. Read the article here: https://lnkd.in/gCwjEPRk #mortgageadviser #mortgageindustry #homeloans #turnaroundtimes #bankingindustry

Turnaround times for mortgage applications have slowed, forcing many borrowers to wait longer for a decision, say mortgage advisers. Connie Wang, managing director at Prosperity Finance, said it usuallytook three to four working days to process a mortgage decision but service levels across the five big banks have dropped and it was now taking 10 working days. Wayne Henry, managing director and mortgage adviser at Wayne Henry Mortgages, said that there had been a “noticeable difference” in processing timeframes, and that there appeared to be “no simple solution”. However, ANZ, ASB Bank and Westpac New Zealand told NZ Adviser that the level of complexity, their existing application volumes and missing necessary information could cause turnaround times on mortgage applications to vary. They also said it was their intention to maintain the same service levels across the direct and adviser channels. Read the full article here: https://lnkd.in/gQwwAUUQ #mortgageindustry #mortgageadviser #turnaroundtimes #lending #homeloans #bankingindustry