NZ Home Loans hits $1 bill mark
New Zealand Home Loans has, for the first time ever, settled more than $1 billion in home loans in a year making it one of the biggest mortgage groups in the country.
Thursday, December 13th 2012, 9:33AM
NZ Home Loans is a subsidiary of Kiwibank's parent, NZ Post, and write mortgages primarily with Kiwibank, Sovereign and Liberty Financial. Over its total loan book is sitting near the $4 billion mark
The $1 billion was reached after a record week for the business where $31.3 million of loans were settled and a best ever loan month in November with $121.3 million settled. The previous best month was $109.3 milion in December last year.
Much of the growth this year has come from the Auckland market which as a region has grown over the past year from 27% to 43% of the company’s home loan portfolio with the number of branches doubling over the past two years to the present 18.
NZ Home Loans chief executive Mark Collins beleives the result is a testament to its unique approach that prioritises getting clients out of debt, not into it.
“Our model seems to be striking a chord with New Zealanders who are treading carefully in today’s economic conditions and housing market, and making every penny count.”
“People are saying they are coming to New Zealand Home Loans because we don’t just lend money and leave the hard work of paying it off solely to them. They get ongoing advice, support, tools and reviews to manage and reduce their debt, and create wealth.”
Collins says the company is also experiencing "an unprecedented level of interest in new consultants" joining the company.
He says they enter the company’s training and mentoring programme from which they ultimately progress to become business owners. This, in conjunction with the growing awareness of the unique service New Zealand Home Loans offers, bodes well for our on-going growth which we are forecasting to be around 25% in 2013.”
NZ Home Loans has a network of 60 franchises. Ten new branches have opened in the past year.
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