tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, April 3rd, 7:06PM

Mortgages

Mortgage Rates Daily Commentary
Friday 3 April 2020  Add your comment
Payment holidays won't affect credit scores; Licensing delay could hurt overachievers

Banks have quashed speculation that payment holidays will affect customers' credit scores and their ability to borrow in the future: [READ ON]

A delay to the FSLAA regime could be a problem for those that have already moved their business towards licensing, according to one expert: [READ ON]

rss
Latest Headlines

Lifetime to sever ties with Mortgage Link

Lifetime Financial Security has decided to sever its ties with Mortgage Link after failing in a bid to acquire the group.

Tuesday, November 15th 2011, 5:42AM

by Jenny Ruth

From the end of the year it will incorporate its three Mortgage Link licensed offices under its own umbrella as Lifetime Mortgage Solutions.

Chief executive Warren Stephens says since buying David Tillman's mortgage business and Chris O'Dell's Mortgage King, his company has been operating mortgage businesses under multiple brands and now needs to simplify its structure.

"We are going though an entire group restructure heading into 2012 and streamlining as much of our operation as possible," Stephens says.

While Lifetime had enjoyed its association with Mortgage Link, after Mortgage Link turned down its offer to acquire 100% ownership of the entire group, Lifetime had decided it was time to move on, he says.

Lifetime will be using Allied Kiwi as its mortgage aggregation service provider - it has already been working with Allied Kiwi since acquiring the Tillman business - for all its mortgage brokers from the beginning of next year.

Lifetime's association with Mortgage Link began two years ago when it acquired The Mortgage Link Rangiora licence. It also has the Christchurch and Blenheim-based Mortgage Link offices.

Mortgage Link chief executive Rod Templeton says his company's business model and culture and quite different to Lifetime's, although it had been willing to give the co-branding strategy a trial.

"We've got a value proposition and it's different from aggregators and it's different from other franchises," Templeton says.

Mortgage Link, which still has about 21 licencees around the country, will now look at ways to maintain its presence in Christchurch, Blenheim and Rangiora, he says.

Stephens says Lifetime now has 10 mortgage brokers within its broader financial services group which has a total of 52 brokers and primarily focuses on risk advice, such as life insurance, financial planning and Kiwisaver.

Lifetime has 11 offices throughout the South Island and one in Wellington and is in "some serious negotiations" about acquiring other North Island businesses. In the meantime, its existing brokers can provide services to North Island customers using technology such as Skype, Stephens says.

Lifetime is aiming to have mortgage brokers in all its offices and sees mortgage broking as an avenue for selling other financial products, he says.

The Christchurch earthquake was a major setback for Lifetime's expansion plans.

"However, looking back over the year, we have still settled eight acquisitions/business purchases for a total north of a mil ($1 million) so I guess we should be relatively pleased with our progress," Stephens says.

The group is well on track to exceed its 2011 budget which, in the circumstances, "is simply a stunning result."

Lifetime was founded in 2006 after purchasing a Blenheim-based business.

« RWC finishes; rate war battle commencesThe lure of attractive fixed home loan rates »

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
AIA 4.55 3.55 3.89 3.99
AIA Special - 3.05 3.39 3.69
ANZ 4.44 3.55 3.85 4.49
ANZ Special - 3.05 3.35 3.99
ASB Bank 4.45 3.55 3.89 3.99
ASB Bank Special - 3.05 3.39 3.69
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - 3.09 3.35 3.69
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.75 4.10 4.55
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.15 3.15 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 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.95 3.09 3.50
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.94 4.08 4.39
Kiwibank 4.40 3.84 4.14 4.40
Kiwibank - Capped - - - -
Kiwibank - Offset 4.40 - - -
Kiwibank Special - 3.09 3.39 3.65
Liberty 5.69 - - -
Lender Flt 1yr 2yr 3yr
Napier Building Society - - - -
Nelson Building Society 4.95 ▼4.09 4.15 -
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 4.54 4.85 5.05 5.49
SBS Bank Special - 3.09 3.39 3.69
The Co-operative Bank - Owner Occ 4.40 3.25 3.45 3.69
The Co-operative Bank - Standard 4.40 3.75 3.85 4.19
Lender Flt 1yr 2yr 3yr
TSB Bank 5.34 3.89 4.15 4.49
TSB Special 4.54 3.09 3.35 3.69
Wairarapa Building Society 4.99 3.95 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 3.09 3.39 3.69
Median 4.60 3.65 3.89 3.99

Last updated: 31 March 2020 8:55am

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