Resimac writing more prime loans and dealing with more advisers

Overall its home loan assets under management has increased by 35% to $770 million, the company says.

Resimac Head of New Zealand, Luke Jackson, said the results show non-banks are writing more traditional bank business than previously and a growing number of advisers are starting to use non-bank lenders.

Jackson said Resimac was well positioned when New Zealand first went into lockdown last year. Staff were already working from home, and non-banks were more flexible than mainstream lenders. Also Resimac had very competitive rates.

Banks have become "more difficult to deal with", he says and that has been "like a light bulb going on for many advisers."