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: Tuesday, June 28th, 3:01PM

Mortgages

rss
Latest Headlines

Mortgage Link considers licenced entity model

Mortgage Link aims to write $1 billion worth of home loans this year and is considering becoming a licensed entity.

Friday, October 14th 2016, 1:12PM

Managing director Josh Bronkhorst says the group has nearly doubled in size in the past year and now has 31 principals.

The group works on a licensee model and is looking to get to between 50 and 60 principals in the next 24 months.

On Monday Mortgage Link will be the latest dealer group to be accredited to BNZ. BNZ started its re-entry into third party distribution with New Zealand Financial Services Group and Loan Market. Since then it has added Mortgage Express into the mix and now Mortgage Link.

Bronkhorst says if the Financial Advises Act review goes in the direction it is currently headed then Mortgage Link would most likely become a Licensed Entity as opposed to all its advisers becoming licenced.

He describes this as being “almost like” the current QFE structure, however QFEs are generally used for vertically integrated business to sell their own products.

If Mortgage Link goes down this track it would provide additional services to its members, and the company would need to take a role monitoring the quality of advice being given.

Currently the group is working with IDS and developing advice manuals.

If it became a licensed entity then the fee structure for its members would change (and increase).

Another change in the past year is that the group has provided Xplan as a CRM alternative to its members who currently use Finware’s iLend.

Members aren’t being made to switch CRMs, rather it offers two options. Xplan suits those who write mortgages and insurance while iLend is good for mortgage advisers, he says.

Mortgage Link now has a non-branded option for its mortgage advisers still owns 50% of Newark Broker Services (the other shareholder is Newpark Group).

Newark Brokers Services is expected to write around $200 million worth of mortgage this year.

Last year Mortgage Link launched Insurance Link which is designed to help its mortgage advisers ring-fence their clients.

Bronkhorst says it currently has 20 members and that is far more then he expected the group to have at this early stage in its development.

Tags: Financial Advisers Act IDS Mortgage Link

« The “Affordability” of Unaffordable HomesThe state of the housing market »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 5.95 4.85 5.35 5.65
ANZ 5.94 ▲5.95 ▲6.40 ▲6.59
ANZ Blueprint to Build - - - -
ANZ Special - ▲5.35 ▲5.80 ▲5.99
ASB Bank 5.85 ▲5.35 ▲5.80 ▲5.99
Avanti Finance 5.95 - - -
Basecorp Finance 6.95 - - -
Bluestone 5.89 7.49 8.09 8.19
BNZ - Classic - ▲5.35 ▲5.69 ▲5.99
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 5.94 ▲5.95 ▲6.29 ▲6.59
BNZ - TotalMoney 5.94 - - -
CFML Loans 6.45 - - -
China Construction Bank 5.50 5.40 6.14 6.40
China Construction Bank Special - 4.45 5.19 5.45
Co-operative Bank - First Home Special - 4.75 - -
Co-operative Bank - Owner Occ 5.85 4.85 5.35 5.65
Co-operative Bank - Standard 5.85 5.35 5.85 6.15
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 4.95 5.45 -
Heartland Bank - Online 4.10 ▲4.40 ▲4.90 ▲5.10
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 6.10 5.00 5.75 -
HSBC Premier 5.89 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.25 4.39 5.09 5.45
Kainga Ora 5.43 4.57 5.58 5.85
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 5.50 ▲6.19 ▲6.69 ▲6.79
Kiwibank - Offset 5.50 - - -
Kiwibank Special 5.00 ▲5.19 ▲5.69 ▲5.89
Liberty 4.84 - - -
Lender Flt 1yr 2yr 3yr
Nelson Building Society 6.45 ▲5.55 ▲6.15 -
Pepper Money 4.49 - - -
Resimac 6.19 5.60 6.16 6.29
SBS Bank 5.79 5.05 5.69 5.89
SBS Bank Special - 4.55 5.19 5.39
Select Home Loans 4.09 4.29 4.86 5.09
TSB Bank - ▲5.65 5.79 ▲6.45
TSB Special ▲4.89 ▲4.85 4.99 ▲5.65
Unity 5.65 4.95 5.55 -
Wairarapa Building Society 5.74 4.95 5.75 -
Westpac 5.94 ▲5.95 ▲6.29 ▲6.59
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.94 - - -
Westpac Special - ▲5.35 ▲5.69 ▲5.99
Median 5.85 5.05 5.69 5.99

Last updated: 27 June 2022 8:43am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com