Real estate firm adds finance arm
RE/MAX New Zealand has joined the list of real estate firms which have set up finance arms to assist clients with home loans and insurance.
Wednesday, July 16th 2014, 10:40AM
It has established New Zealand Property Finance which is a joint venture with niche aggregator the Prosper Group.
Prosper boss, Geoff Bawden (pictured), is the national manager of the new group.
Under the joint venture finance advisers will trade as New Zealand Property Finance and work with the RE/MAX agents to write a full range of financial services for home buyers.
“New Zealand Property Finance will be our preferred partner in lending and other financial matters,” RE/MAX New Zealand general manager Corinna Mansell says.
Bawden says Prosper has more than two dozen advisers and it is committed to helping them grow their businesses.
He says the joint venture with RE/MAX was a way to add value while strengthening its position in the market.
Mansell says:“We see that working collaboratively, the partnership between specialist finance advisers and sales agents means an expanded quality service.”
NZPF services span mortgage products and risk products relating to borrowing, with an expanding suite planned.
Bawden said Auckland and most parts of the North Island will be covered by the existing advisers and new NZPF advisers who are experienced in their field will be recruited to extend the NZPF service throughout the RE/MAX New Zealand network.
“Joining NZPF means a finance specialist is backed by one of New Zealand’s well-respected mortgage aggregators rather than acting independently.
Bawden anticipates NZPF advisers will be aligned with 75% of RE/MAX franchises by this time next year, with plans in place for the balance.
RE/MAX New Zealand was acquired by Michael Davoren, Keith Walker and Chris Chapman in December 2012. RE/MAX has a similar arrangement in Australia with Australian Property Finance which is a joint venture with Vow Financial.
Nathan Swain is the chief executive of Australian Property Finance and New Zealand Property Finance.
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