Mortgage advisers continue to grow share of Westpac's book

Mortgage advisers accounted for about 64% of the net new mortgages Westpac New Zealand wrote in the six months ended March.

That’s a slight increase from the 63% for the year ended Sept 30.

“We think brokers are a really important part of the market. Our bankers having great conversations with customers is important too,” chief executive Catherine McGrath told GoodReturns/TMMonline.

Advisers originated 55.2% of Westpac’s $68.98 billion mortgage book at March 31, up from 53.8% at Sept 30.