Mortgage advisers approach half of BNZ's new lending

BNZ's annual results show mortgage advisers accounted for 48.1% of new business in the September half year, down from 43.8% in the March half, but well up on the 34.3% in the September half last year.

Broker-originated loans now account for 34.8% of BNZ's mortgage book, up from 32.7% at March 31 and 30.7% in September 2022.

BNZ's parent, National Australia Bank, (NAB) said BNZ's share of housing lending in NZ rose to 16.6% at Sept 30 from 16.3% a year earlier.

Chief executive Dan Huggins said in a statement that nearly 5,000 home loan customers switched to BNZ from other banks in the latest year, contributing to the 5.3% increase to $57.7 billion in mortgage lending.