Mortgage Rates Daily Commentary
Wednesday 1 April 2026
Big newsletter today: Top mortgage advisers; BNZ's new switching play; KAN dobs in adviser to FMA
With so much going on this is a much bigger newsletter than usual.
First up a big congrats to Josh Bronkhorst for being recognised by FANZ for his long involvement with financial advisers and helping to grow professionalism in the industry.
Also a shoutout to NZFSG/Loan Market for their work in community support.
You can read more about their awards and others who were recognised at last week's FANZ conference here.
BNZ has started a new game to win mortgage switches. We'd love to know you thoughts on this.
Read the story here.
Send us an email here.
The FMA has cancelled the FAP Licence of a mortgage adviser after being dobbed in by KAN. See what he did here.
NBNZ latest to address broker commissions
National Bank has become the latest major lender to warn mortgage brokers that it wants to cut their commission payments.
Monday, May 21st 2007, 5:19AM
by Maria Scott
Last month sister bank ANZ warned brokers that it wanted to cut commission from 1 June to 45 basis points from an average of about 0.6%. It also proposed an extension to its clawback period, for loans redeemed early, from 12 months to 18 months and to introduce fees for loans submitted and approved but not drawn down.
A large broker group told Good Returns that National Bank had now written to a number of firms giving notice that it wanted to cut commission. No figures were put on the proposal.
National Bank confirmed that it was in discussions but said no decisions had been reached.
A spokesman said: “We've appreciated the constructive feedback we have received and we're now focused on concluding the process with the individual brokers.”
ASB also expects to open discussions with brokers on commissions over the next two months.
Commenting is closed
