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Blackwell eyes gap in market with new funding line

A NZX-listed trading house with links to the old NZ Finance begins lending in New Zealand, particularly on Auckland residential properties.

Thursday, February 15th 2018, 10:44AM

by Dan Dunkley

Finance company lender Blackwell Global has entered the market with a new funding line, aiming to gain market share amid reduced risk appetite from banks.

Mark Thornton, chief executive of NZX-listed Blackwell Global Holdings, which was formed last July by Blackwell’s reverse takeover of NZF Group, said he hoped to ramp-up lending into the New Zealand market following a successful debt raise.

Thornton said Blackwell’s issue of 3-year bonds, achieved with backing from offshore investors, would help the newly-formed company gain market share amid a lack of liquidity in the market, after banks tightened lending in recent months. “We are confident we have found a good niche. Banks have issues funding in New Zealand at the moment, and it is a very good opportunity.”

Thornton declined to reveal the size of the debt raise but said the scope of its funding line would depend on the level of interest from the market.  He added Blackwell would seek to gain from other non-bank lenders with “funding constraints”. “We believe we have a robust funding mechanism in place, to grow bigger and better,” Thornton added.

Over the past month Blackwell has begun lending to customers, focusing mainly on Auckland residential property. Brokers have noted Blackwell offering secured lending of 75%-80% on residential properties, and 65% on commercial sites. Thornton said Blackwell was “happy to consider” 1% commission payments to brokers or negotiate as business came in. Blackwell is also expected to provide residential construction funding for landowners with “good equity levels”, Thornton added.

Global firm Blackwell, which has a commodities trading arm and foreign exchange division, has a presence in markets including Australia and the United Kingdom. Thornton said New Zealand property had a growing appeal among international investors. “New Zealand is seen as a politically stable country with good prospects, and residential property is viewed as safe and stable.”

Tags: Blackwell Global

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 5.94 - - -
AIA - Go Home Loans 8.49 ▼6.19 ▼5.69 ▼5.69
ANZ ▼7.89 6.79 6.29 6.29
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 6.19 5.69 5.69
ASB Bank 8.39 ▼6.19 ▼5.69 ▼5.69
ASB Better Homes Top Up - - - 1.00
Avanti Finance 8.90 - - -
Basecorp Finance 9.60 - - -
BNZ - Classic - ▼6.19 5.79 5.79
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One ▼7.94 - - -
BNZ - Rapid Repay ▼7.94 - - -
BNZ - Std ▼7.94 6.45 5.89 5.79
BNZ - TotalMoney ▼7.94 - - -
CFML 321 Loans 6.70 - - -
CFML Home Loans 6.95 - - -
CFML Prime Loans 8.75 - - -
CFML Standard Loans 9.70 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼5.99 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 8.15 ▼6.19 ▼5.75 5.69
Co-operative Bank - Standard 8.15 ▼6.69 ▼6.25 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.60 6.10 -
First Credit Union Standard 8.50 7.20 6.70 -
Heartland Bank - Online 7.99 6.69 6.35 6.15
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.00 6.50 -
ICBC ▼7.49 ▼6.15 ▼5.69 ▼5.69
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 8.25 7.19 6.69 6.59
Kiwibank - Offset 8.25 - - -
Kiwibank Special - 6.29 5.79 5.79
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 8.75 6.69 6.19 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 8.49 ▼6.95 ▼6.29 ▼6.29
SBS Bank Special - ▼6.35 ▼5.69 ▼5.69
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 5.94 5.45 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
TSB Bank 9.19 7.09 6.59 6.59
TSB Special 8.39 6.29 5.79 5.79
Unity 8.64 6.29 5.79 -
Unity First Home Buyer special - 6.20 - -
Wairarapa Building Society 8.50 ▼6.50 ▼5.89 -
Westpac 8.39 6.89 6.39 6.39
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 6.29 5.79 5.79
Median 8.39 6.47 6.10 5.79

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