About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, April 29th, 4:39PM
Mortgage Rates Daily Commentary
Friday 29 April 2016  Add your comment
OCR cuts imminent

Leaving the OCR on hold was the right decision, but there will be further cuts down the track, economists say. Read more

rss
Latest Headlines

Mortgage processing company launched

In an effort to beef up efficiencies in the mortgage broking industry, Mortgagenet Director Kieran Trass has developed a separate processing company, MPL, to provide a link between brokers and mortgage lenders.

Thursday, March 29th 2001, 3:42PM

by Paul McBeth

In an effort to beef up efficiencies in the mortgage broking industry, Mortagenet Director Kieran Trass has developed a separate processing company, MPL, to provide a link between brokers and mortgage lenders.

Trass says his own broking firm Mortgagenet began using MPL's services a couple of weeks ago, another broker will use the service from April and he's already fielding further enquiries from round the country.

Trass claims that difficulties are now becoming apparent in New Zealand's relatively immature mortgage broking industry and are potentially restricting further growth. He says that successful brokers are getting held back by the large amount of administrative work that's generated after a mortgage application is received.

MPL (Mortgage Processing Limited) handles a lot of the admin side of mortgages, runs credit and information checks and liaises with the bank or other mortgage lender. Trass says its services revolve round a database tailored for the mortgage broking industry and it charges mostly on a set fee basis rather than percentage commissions.

"My attitude is, why penalise successful people for doing lots and lots of mortgages."

Trass isn't aware of any similar companies in New Zealand or Australia, but says such firms exist in the UK and American markets.

Paul is a staff writer for Good Returns based in Wellington.

« Happy daysNew source of mortgage funds »

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
ANZ 5.64 4.75 4.85 4.99
ANZ Special - 4.25 4.35 -
ASB Bank 5.55 4.69 4.89 5.25
ASB Bank Special - 4.15 4.39 4.65
BankDirect 5.55 4.69 4.89 5.25
BankDirect Special - 4.15 4.39 4.65
BNZ - Mortgage One 6.30 - - -
BNZ - Rapid Repay 5.75 - - -
BNZ - Special - 4.25 4.39 4.64
BNZ - Std, FlyBuys 5.69 4.85 4.89 4.99
BNZ - TotalMoney 5.69 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 5.25 5.15 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.60 4.85 4.90 -
Housing NZ Corp 5.55 4.69 4.85 4.99
HSBC Premier 6.10 4.25 4.39 4.59
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - 4.25 4.25 -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.45 4.70 4.75 4.75
Kiwibank - Capped - - - -
Kiwibank - Offset 5.50 - - -
Kiwibank Special - 4.29 4.25 4.85
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.85 4.69 4.75 5.09
Perpetual Trust 7.70 - - -
Lender Flt 1yr 2yr 3yr
Resimac 5.59 5.24 5.29 5.39
SBS Bank 5.59 4.75 4.89 4.99
SBS Bank Special - 4.10 4.29 4.65
Sovereign 5.65 4.69 4.89 5.09
Sovereign Special - 4.15 4.39 4.65
The Co-operative Bank 5.45 4.25 4.35 4.65
TSB Bank 5.54 4.85 4.95 5.25
TSB Special - 4.35 4.19 4.79
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 5.75 4.79 4.89 4.99
Westpac - Capped rates - 5.15 5.25 -
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.75 - - -
Westpac Special - 4.25 4.39 4.80
Median 5.75 4.69 4.85 4.99

Last updated: 22 April 2016 9:18am

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
 
Site by Web Developer and eyelovedesign.com