About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Friday, December 14th, 6:30PM
rss
Latest Headlines

Mortgage Express confirms Aussie joint venture

Mortgage Express New Zealand has confirmed a joint partnership agreement with Australian adviser group Astute Financial Management. The deal will see see Sarah Johnston become CEO of the Aussie group and David Gopperth become MX's General Manager.

Monday, October 29th 2018, 12:09PM

It comes months after TMM revealed talks over a joint-venture agreement between the two groups. The companies have declined repeated requests for comment on the JV, but confirmed the agreement in a statement today.   

The newly-announced joint venture will see Mortgage Express adopt Astute's integrated model and technology. The companies said the JV would "enhance" the Mortgage Express product offering. 

Astute has significant influence in the Australian market, with more than 500 members. The group offers mortgage finance, insurance and wealth management services to Australian clients.

Astute's technology platform is said to be a key driver behind the JV deal. Key figures within the groups also believe a cross-Tasman partnership will help them cope with regulatory changes.

The JV will lead to a management restructure at Mortgage Express. Sarah Johnston will step down to become Astute Financial Management CEO, while David Gopperth will become Mortgage Express General Manager. Gopperth joined Mortgage Express in April this year, and has years of experience in the mortgage sector, having spent decades at Westpac, including a spell as head of third party distribution. 

Johnston said: "The joint venture opens up opportunity for us to be able to deliver a diversified product range to members in New Zealand and also to their clients. It will be a truly game changing offering for our members. We look forward to getting to work now and helping our members to grow a full service financial services experience.”

Astute Director Brad Wood added: "‘Astute have been in the Australian market providing services to high quality financial services businesses for over 18 years. We have been investigating our options to enter the New Zealand market for over 5 years but have been waiting for the right partner to work with. We have found that right partner with Mortgage Express. We are really excited to be bringing this full-service financial model to New Zealand."

 

 

 

Tags: Mortgage Express regulation

« SBS changes commission structureNon-banks plan second “speed dating” event »

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
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
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 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
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 - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

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