About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, October 23rd, 11:06AM
rss
Latest Headlines

General Finance founders target funding gap with EMortgage

William Cairns, the co-founder of General Finance, has outlined plans to take a bigger slice of the non-bank lending market with Emortgage, another business founded with partner James Lockie.

Monday, May 14th 2018, 6:00AM

by Dan Dunkley

Cairns said Emortgage, backed by his and Lockie’s Cardrona Capital vehicle, planned to become a “established private lender” to tap into rising demand for non-bank lending.

Emortgage has been part of Cairns and Lockie’s portfolio of business interests for several years, but the duo is set to ramp up the lender following the sale of main business interest General Finance in December.

Cairns and Lockie sold General Finance shortly after Christmas to financier Brent King and a consortium of investors including Malaysia-based Rewi Bugo, investment banker Marvin Lee, and Grant Baker, of the Business Bakery.

Emortgage is currently fully-lent but plans to secure more funding before going back out into the market, Cairns said. The company focuses on short term loans, and will not look for external funding, he added.

Cairns told TMM Online he saw significant gap in the market as banks retained a conservative lending profile. “I see an opportunity for non-bank lender and a continuing market for those wanting short-term finance. A home-grown lender is just easier to deal with."

Emortgage operates in the same space as General Finance, offering residential loans to property investors almost exclusively through advisers. Prior to the sale of General Finance, the company had a business relationship with Emortgage, occasionally passing on customers.

Cairns said he would follow the blueprint set at his former business: “At General Finance we thought we had good lending criteria, and we were one of the dozen out of about 70 to survive the financial crisis. We are going to continue around the same strategy,” Cairns added.

Tags: General Finance

« ANZ posts half year cash profit of $941 mill Advisers account for bigger share of ANZ's home loans »

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
  • Passive managers reject criticism
    “Are Kiwi Wealth really this misinformed? Plus their active share is appalling. MSFT AMZN and AAPL as largest holdings, that's...”
    2 hours ago by CJ2
  • Retirement Commissioner: Consider KiwiSpend
    “murray, ks can be a very useful tool if structured correctly. there's more than one way to use it....”
    3 hours ago by w k
  • Retirement Commissioner: Consider KiwiSpend
    “KiwiSpend is an idea for a solution to a potential challenge -what happens when you might live longer than average and have...”
    4 hours ago by Michael Chamberlain
  • Passive managers reject criticism
    “This is where fact meets fiction. I have read and agree with the KiwiWealth report on active vs passive. It has been produced...”
    5 hours ago by Pragmatic
  • Retirement Commissioner: Consider KiwiSpend
    “PS reflecting an earlier story I read somewhere, isn't the Government extremely clever allowing the situation to occur where...”
    21 hours ago by Murray Weatherston
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 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 ▼4.05 ▼3.95 4.39
ASB Bank Special - ▼3.55 ▼3.45 3.89
BNZ - Classic - ▼3.55 ▼3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp 5.19 4.15 4.09 4.39
HSBC Premier 5.24 3.35 3.35 3.35
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kiwibank 5.80 4.30 4.24 4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.49 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 4.50 4.86 3.89 3.94
Lender Flt 1yr 2yr 3yr
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.65 ▼3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.49 ▼4.29 4.85
TSB Special 5.29 3.69 ▼3.49 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.34 - - -
Westpac Special - 3.55 3.45 3.99
Median 5.34 4.05 4.02 4.05

Last updated: 21 October 2019 9:16am

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