Pero reclaims business

Mortgage broker Mike Pero has reclaimed full ownership of Mike Pero Mortgages by convincing South Canterbury Finance to sell its stake back to him.

South Canterbury Finance bought half the company in 1996 to help it expand into the North Island, particularly into the Auckland market in 1997.

Pero said that he had wanted to regain full ownership for some time.

Mike Pero Mortgages processes $1 billion of loans annually.

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