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The latest billion dollar broker

A 46-year-old adviser has become Loan Market's latest Billion Dollar person, despite running his brokerage from afar for the last several months.

Thursday, December 29th 2022, 6:00AM 1 Comment

by Eric Frykberg

Cameron Marcroft has been handling Loan Market's Auckland Central office from a home in Wanaka for much of 2022, augmenting on-line lending work with a once-a-month commute to check things out at the Remuera Rd office.

This absence did not stop him from passing the $1 billion milestone less than seven years after setting up the Central branch of the Loan Market franchise.

Two other Loan Market operators, Bruce Patten and Robyn Ashkettle, have also sold mortgages worth that same amount.

So how did Cameron pull it off?

'I have seen many other mortgage models in my career – the good, the bad and the ugly – and I saw the best way for Loan Market to grow its business was to align with Ray White real estate in Remuera.

“I also invested into the business and employed good people who have stayed with me.”

Marcroft says in reaching the big number he had a bit of luck in that Remuera house prices were higher than elsewhere and so people had to borrow more to buy a property. He also spread his business a bit wider, though mainstream banks still took the vast majority of his business compared with non-bank lenders.

Marcroft adds in the early days, Ray White provided about 50% of his leads, but this had since dropped to 20% as business started coming in from a wider range of sources.

Cameron Marcroft started working in the finance sector when he took a job with a job in the old National Bank, and joined the ANZ when the two banks merged.

He later worked in sales for the New Zealand Financial Services Group (NZFSG) before setting up Loan Market's Central Auckland Branch in Remuera.

His goal is now to build up his team of advisers to run the business and “get their names up in lights”. He is also moving back from Wanaka, but will not be so hands-on as a mortgage adviser. That does not however mean he will stop.

“I am many years away from retiring, however, a change of scenery like Wanaka helps you evaluate what you want in life.

“I want to evolve my business so it is not so much about me, but it is about my staff. I want to oversee them, to mentor them ….. that is how I see myself.”

Tags: Loan Market

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Comments from our readers

On 29 December 2022 at 2:45 pm Veteran Charles said:
It is great to read a story based on hard sales results.....$1 Billion in deals in 7 years!! Nothing airey fairey about that. No self-hate or lip service. Very refreshing. It used to be like that in bank and then all the touchy-feely stuff came in. [
Give me another 233 years and I will myself be in Billion $ club.]

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 7.29 6.59
SBS Bank Special - 7.14 6.69 5.99
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.35 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.75 6.65
Median 8.64 7.21 7.29 6.65

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