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Advisers account for bigger share of ANZ's home loans

ANZ's home loan market share fell in the six months to March 31, however mortgage advisers accounted for a greater proportion of the loans written.

Thursday, May 3rd 2018, 8:47AM

The bank remains the number one home loan lender in the market, however its market share fell from 31.1% to 30.9% during the period. In the first half of the year advisers accounted for 41% of loans written compared to 38% in the corresponding period last year. This growth largely came at the expense of branch distribution, although mobile mortgage managers were down from 11% to 10%.

ANZ chief executive David Hisco said "a while back we slowed down our appetite a little bit when the market was out of control."

"But we're back in the game now."

He says big banks are a bit like an oil tanker; "they take a while to wind up, but when they get going they move along nicely.

ANZ grew its loan book 3% in the first half of the year, but that was still below system growth. Hisco said that the decline in market share will hopefully come to an end.

"We are aiming for at least system growth for this half," he said.

Mortgage advisers are "an important part of our flow," he says. However, he doubts third party distribution will ever get to Australian levels where more than 50% of home loans are originated through advisers.

He says New Zealand is structured differently with more branches and "more feet on the street".

"I'm not sure it would get there (to 50-plus%), but you never know.

COMMISSION MODEL

Hisco says he is "pretty comfortable" with its model of paying upfront commissions only, even though competitors were now offering trail commission to advisers.

"We're pretty happy with what we are doing. It seems a reasonable way to go."

He says upfront was easier to manage from the bank's perspective and advisers "seem to have accepted that too."

Tags: ANZ David Hisco

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Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.95 3.29
ANZ 4.44 3.10 3.50 3.84
ANZ Blueprint to Build 1.68 - - -
ANZ Special - 2.50 2.90 3.24
ASB Back My Build 1.79 - - -
ASB Bank 4.45 2.55 2.95 3.29
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.55 2.95 3.25
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 4.55 3.15 3.22 3.85
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 1.95 1.85 2.35 2.45
Heretaunga Building Society 4.99 3.80 3.90 -
Lender Flt 1yr 2yr 3yr
HSBC Premier 4.49 2.19 2.45 2.69
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 3.69 2.15 2.35 2.75
Kainga Ora 4.43 2.67 2.97 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.75 3.34 3.34 4.14
Kiwibank - Offset 3.75 - - -
Kiwibank Special 3.75 2.49 2.49 3.29
Liberty 5.69 - - -
Nelson Building Society 4.95 2.99 3.24 -
Lender Flt 1yr 2yr 3yr
Pepper Essential 4.79 - - -
Resimac 3.39 2.98 2.79 3.29
SBS Bank 4.54 2.69 2.99 3.29
SBS Bank Special - 2.19 2.49 2.79
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.29 - -
The Co-operative Bank - Owner Occ 4.40 2.49 2.89 3.19
The Co-operative Bank - Standard 4.40 2.99 3.39 3.69
TSB Bank 5.34 3.30 3.69 4.04
TSB Special 4.54 2.50 2.89 3.24
Wairarapa Building Society 4.99 3.55 3.49 -
Lender Flt 1yr 2yr 3yr
Westpac 4.59 3.15 3.49 3.89
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.89 3.29
Median 4.54 2.68 2.99 3.29

Last updated: 19 July 2021 9:09am

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