About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, February 23rd, 11:20AM
Mortgage Rates Daily Commentary
Friday 21 February 2020  Add your comment
What will happen to insurance premiums under the new regime?

Improved industry standards could stabilise insurance premiums under the new financial advisers regulatory regime, according to one industry expert: [READ ON]

rss
Latest Headlines

Half of Mortgage Express sold

Real Estate group Harcourts has sold 50% of Mortgage Express to Perpetual Trust for an undisclosed sum.

Wednesday, July 24th 2002, 5:27PM

by Jenny Ruth

Perpetual Trust, which is part of Pyne Gould Corp, has bought 50% of mortgage broker Mortgage Express from real estate firm Harcourts for an undisclosed sum.

Mortgage Express, which has annual turnover of more than $340 million, is based in Auckland and has 23 mobile mortgage managers operating throughout New Zealand.

Perpetual Trust general manager Stephen Eaton says his company thinks Mortgage Express is a good business in its own right. But investing in it will also provide Perpetual with an opportunity to distribute its products, such as insurance, trusts, financial planning and managed funds, through both Mortgage Express and the Harcourts network, he says. Harcourts has 210 offices in New Zealand.

"Trust company businesses are really changing in New Zealand. We're starting to push the envelope a bit," Eaton says.

But Perpetual won't be trying to sell mortgages through those networks: "We haven't really got a competitive product and nor do we intend to develop one," he says.

Harcourts executive director Paul Wright says joining forces with Perpetual "will enable us to explore further products for our clients as part of our 'one-stop-shop' concept, such as trusts, wills and other financial services."

He also sees an opportunity to offer Harcourts and Mortgage Express services to Perpetual's clients.

Perpetual has $8 billion in funds under management and the Marac and Frontline finance companies are also part of the Pyne Gould group.

This isn't the first time Harcourts has linked with a financial institution. Mortgage Express began life in late 1997 as a joint venture between it and National Mutual, which later become AXA.

Then in late 2000, AXA sold its mortgage book, aiming to refocus on its core insurance and investments business, and in September the following year withdrew from Mortgage Express.

« Banks adopt retailing gimmicksHousing market slowing down »

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 5.19 3.95 4.15 4.49
ANZ Special - 3.45 3.65 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
Lender Flt 1yr 2yr 3yr
China Construction Bank Special - 3.19 3.19 3.19
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.65 4.80 -
HSBC Premier 5.24 3.54 3.20 3.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank 5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Lender Flt 1yr 2yr 3yr
Pepper Money Near Prime 5.64 - 5.44 5.44
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
Lender Flt 1yr 2yr 3yr
TSB Bank 6.09 4.19 4.35 4.69
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society 5.50 3.95 4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.96 4.09 4.39

Last updated: 21 February 2020 4:32pm

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