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Lifetime buys David Tillman Mortgages

Lifetime Financial Security has gone unconditional with the sale and purchase of David Tillman Mortgages in Christchurch.

Friday, June 4th 2010, 4:34PM

by Jenha White

Lifetime chief executive Warren Stephens says he is looking forward to welcoming the Tillman team into the group from July.

"We believe that the mortgage relationship is the cornerstone to the whole financial planning picture and with such a great business as David Tillman Mortgages this complements nicely into the other key services and offerings the Lifetime Group is able to deliver".

He says the acquisition enhances Lifetime's propositions further, building its team and working on its large scale. It now has 95 members including staff and advisers.

David Tillman says he made the sale because in the industry at the moment you either have to grow or get out.

"I'd lost a bit of passion to make the business grow and it is dangerous to sit there and do nothing, so Lifetime happened to come at the right time six months ago."

He says he really enjoys giving financial advice and he would like to do that now if regulation doesn't create a paper war.

"If regulation means a 20 minute conversation over the phone becomes a two-hour paper war, then the intentions are good, but it won't work for me."

He is currently considering what to do next although he does enjoy gliding and has travel plans.

 

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

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AIA - Back My Build 4.94 - - -
AIA - Go Home Loans 7.49 ▼5.79 ▼5.49 ▼5.59
ANZ 7.39 6.39 6.19 6.19
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
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BNZ - Classic - 5.99 5.69 5.69
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BNZ - Mortgage One 7.54 - - -
BNZ - Rapid Repay 7.54 - - -
BNZ - Std 7.44 ▼5.79 ▼5.59 5.69
BNZ - TotalMoney 7.54 - - -
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CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 5.69 - -
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Co-operative Bank - Owner Occ 6.95 5.79 5.59 5.69
Co-operative Bank - Standard 6.95 6.29 6.09 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - ▼5.99 ▼5.89 -
First Credit Union Standard ▼7.69 ▼6.69 ▼6.39 -
Heartland Bank - Online 6.99 ▼5.49 ▼5.39 ▼5.45
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.60 6.65 6.40 -
ICBC 7.49 ▼5.79 ▼5.59 5.59
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 7.25 6.89 6.59 6.49
Kiwibank - Offset 7.25 - - -
Kiwibank Special 7.25 5.99 5.69 5.69
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 7.94 ▼5.75 ▼5.99 -
Pepper Money Advantage 10.49 - - -
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Pepper Money Essential 8.29 - - -
SBS Bank 7.49 6.95 6.29 6.29
SBS Bank Special - 6.15 5.69 5.69
SBS Construction lending for FHB - - - -
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SBS FirstHome Combo 4.94 5.15 - -
SBS FirstHome Combo - - - -
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TSB Bank 8.19 6.49 ▼6.39 ▼6.39
TSB Special 7.39 5.69 ▼5.59 ▼5.59
Unity 7.64 ▼5.79 ▼5.55 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society ▼7.70 ▼5.95 ▼5.75 -
Westpac 7.39 6.39 6.09 6.19
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Westpac Special - 5.79 5.49 5.59
Median 7.49 5.97 5.75 5.69

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