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Returning to the heart of being a broker

Outgoing Loan Market chief executive David Hart says brokers are more relevant than ever in the property and lending world.

Tuesday, August 13th 2013, 7:08AM

by Susan Edmunds

Mortgage brokers must work to provide a full package of services to clients in order to stay relevant and offer value, says departing Loan Market chief executive David Hart.

Hart has decided that after almost four years in the top job at the country’s biggest broking group, he will step aside.

Executive chairman Sam White said Hart had a tremendous impact on the Loan Market business. He joined as a broker nine years ago and was one of the most successful in New Zealand before leaving his own broking business to take over as chief executive when Loan Market merged with Plan NZ.



White said: “During the time he led our group he gave us clarity and direction. He has a great passion for helping our brokers grow their businesses and he understood the key changes that were happening in the mortgage and insurance industries here. He was a key architect of the merger with Allied Kiwi and has laid a  strong foundation for the group.”

Hart is to return to Tauranga to focus on his own business at the end of September.

“It’s time to go and for someone else to come in,” he said. “I’ve been here for a while and came in with the intention of doing a few things I wanted to get done, such as getting scale into the business and being relevant for lenders going forward, as well as a new software platform for brokers. Those targets have been hit now. It’s time for the next move for me personally.”

Hart said he was looking forward to working as a broker again. He was optimistic about the future of the industry. “Nothing really changes. With apps, at the end of the day it’s still a personal business. I haven’t seen an app sign anything yet. We’re very relevant at the moment.  If we were going to be replaced, why are we rolling so much business at the moment?”

He was proud of how Loan Market had grown. “It’s a big business now compared to what it was. One of the best things has been the pride I have got out of seeing brokers grow their own businesses, as individual businesspeople.  Several of them now run quite big businesses, seeing them put that together has been great.”

Loan Market will advertise the chief executive role.

« CEO of biggest broking group resignsReserve Bank releases response to submissions on high-LVR restrictions »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 ▼7.74 ▼7.35 ▼6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 ▼7.09 ▲6.95
SBS Bank Special - 7.14 ▼6.49 ▲6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.84 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.24 6.75 6.39
Median 8.64 7.19 7.17 6.65

Last updated: 12 June 2024 4:04pm

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