About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, October 17th, 4:35PM
Check out GoodReturns TV now! Dismiss
rss
Latest Headlines

Australian non-bank lender set to return to NZ

One of the bigger non-bank lenders before the GFC is set to return to New Zealand.

Sunday, October 1st 2017, 6:00AM 1 Comment

Bluestone Mortgages, which was a significant player in the mortgage adviser market before the Global Financial Crisis has confirmed it is returning to the market.

"We think there is a good opportunity set around," Bluestone chief operating officer, Asia Pacific, Peter Wood says.

He was non-committal about when the company would return to market saying there were "still some things to piece together."

"All things being equal we will certainly be in the market."

TMM Online understands Bluestone has already recruited staff from some other non-bank lenders.

Wood says Bluestone will operate as a specialist lender, but it won't be offering reverse mortgages like it did when it was in the market earlier.

While it left the market in 2008, it has continued to manage a book of loans in New Zealand. The book was originally around $20-$30 million, Wood says, but is smaller now.

Bluestone Mortgages is part of the Bluestone Group which was established in 2000. Bluestone is a multi-national financial services business with offices in the UK, Ireland, the Philippines and Australasia. Since 2000 it has originated more than £3billion of loans (A$5bn) of loans for more than 20,000 customers and completed a total of 20 securitisations in both Australia and New Zealand.

 

Tags: Bluestone Mortgage Advisers mortgages

« Two groups working together for advisersKick backs to agents shouldn't happen, but do »

Special Offers

Comments from our readers

On 4 October 2017 at 12:37 pm Allistar Walker said:
Great.

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • KiwiSaver fees: Paying for performance
    “ANZ just don’t give up do they….actually not surprising as there is little downside to fake news in the NZ finance scene....”
    4 days ago by Brent Sheather
  • Entity licensing 'boosts risk'
    “Pretty much the theory about entity responsibility in Australia in 2004, Baz. Results? EUs for just about every VIO. Remains...”
    5 days ago by dcwhyte
  • Insurance cover and suicide rates
    “Good on you Richard for raising awareness. From my perspective mental health is often (thought not necessarily always) a...”
    5 days ago by Paul J Burns
  • Advisers lack client files
    “Sounds like every "vertically integrated" business model. I am yet to see a client who got a report from the bank outlining...”
    5 days ago by Bikedude
  • 'Adviser cull' could hit NZ
    “Thanks, David, for the calming voice...as to the much touted 'drop in risk commissions' that is, I sincerely trust, going...”
    5 days ago by Majella
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
ANZ 5.79 5.05 5.19 5.49
ANZ Special - 4.55 4.69 4.99
ASB Bank 5.80 4.75 4.99 5.29
ASB Bank Special - 4.39 4.69 4.99
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.59 4.69 5.09
BNZ - Std, FlyBuys 5.90 4.99 5.29 5.59
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.45 5.50 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 5.00 5.20 -
Housing NZ Corp 5.79 4.75 4.99 5.29
HSBC Premier 5.79 4.19 4.29 4.89
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.95 5.15 5.59
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.55 4.65 5.09
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special 5.00 - 4.75 -
SBS Bank 5.89 4.99 5.19 5.59
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.59 4.69 5.09
Sovereign 5.90 4.75 4.99 5.29
Sovereign Special - 4.39 4.69 4.99
The Co-operative Bank - Owner Occ 5.75 4.55 4.69 4.99
The Co-operative Bank - Standard 5.75 5.05 5.19 5.49
TSB Bank 5.80 4.80 5.15 5.45
TSB Special - 4.55 4.69 4.99
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.99 5.19 ▼5.44
Westpac - Capped rates - 5.26 5.36 -
Westpac - Offset 5.95 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 4.59 4.74 ▼4.94
Median 5.82 4.78 4.99 5.29

Last updated: 13 October 2017 9:47am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

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