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Jenny Ruth
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Old Mortgage News

Westpac and BNZ grow mortgage books

Thursday 15th of December 2011

Together with Kiwibank, they accounted for just about all the growth in mortgage lending in the quarter as four of the mortgage-lending banks, ANZ, ASB, HSBC and SBS, saw their mortgage books shrink.

Now all the banks' disclosure statements have been lodged, mortgage lending, as shown in all the loan-to-valuation ratio (LVR) tables, grew $762 million to $167.05 billion in the three months ended September.

Westpac's statement shows its mortgage book grew $309 million to $34.96 billion while BNZ's shows its book grew $305 million to $27.38 billion. As previously reported, Kiwibank's book grew $318 million to $10.95 billion while ANZ was the biggest loser, its book shrinking $162 million to $51.17 billion.

That put Westpac's share of mortgage lending by registered banks at September 30 at 20.93%, up from 20.84% at June 30, BNZ's at 16.39%, up from 16.28%, and ANZ's at 30.63%, down from 30.87%.

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
10 hours ago Steve Wright
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Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
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FMA outlines its latest expectations for advisers
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