Posts Tagged ‘home lending’
Loan Market’s Bruce Patten has come in runner up in the 2009 New Zealand Mortgage Brokers Association Broker of the Year award which was presented last Friday. In addition to being named the national runner up, Bruce, a regular finalist in the New Zealand mortgage broking industry’s prestigious yearly awards, was named Broker of the Year for the Greater Auckland region for an amazing fifth time. Loan Market’s Gopal Sreenivasan was also a finalist on the night in the Mid-Central Auckland region. Although unfortunately not winning his region, Gopal’s recognition as a finalist is well-deserved and highlights the professionalism and dedication with which he operates on a daily basis.
The Loan Market continues their run of outstanding months in placing mortgages for our purchasers. They completed just on 191 loans and our top broker for the month of July was Bruce Patten. Scott Charlesworth who continues to have a great year, also had an outstanding month. The leader of our Central North Island business based in Tauranga, David Hart, who in his own right is one of our top international personal lending managers, was not far behind. The Loan Market team has 51 personal lending managers throughout New Zealand.
With the changing environment in finance for home lending, the Loan Market are increasingly being utilised by the buyers within the market. We would encourage you during this uncertain period with finance to consult with your local Loan Market personal lending manager to get the best financial information.
The Reserve Bank Governor, Alan Bollard, lsat week kept the OCR rate unchanged at 2.5%. The Reserve Bank statement made it clear that the OCR level will remain at 2.5% or lower until the latter part of 2010. There was also an indication that if the New Zealand dollar and wholesale interest rates remained at high levels, the OCR would be expected to be lowered over the next quarter. There was also a message in there for the property and finance markets. With average pricing beginning to increase across New Zealand, the indication was to re-enforce the housing market but to ensure that affordability remained for all New Zealanders and that banks continue to have enough liquidity to allow borrowing at a level which continues to keep the market flowing. He went onto say the economic outlook remains weak however New Zealand is slightly sheltered from the overall global recession through its exports and its partnership with Australia. The graph shows since July 2008 that interest rates have reduced from 8.5% to 2.5% and potentially expected to go lower.
Source ASB Economic Update
The Loan Market New Zealand consumer website has been undergoing a major redesign over the past months and was released publicly overnight. The Loan Market New Zealand has 46 brokers faciltating 760 mil in lending per annum.
The upgraded Loan Market website now includes -
Updated branding to the new International Loan Market logo
Comprehensive menus for Home Loans, First Home Buyers, Investment Loans and Refinancing inclusive of more extensive content.
New user friendly mortgage calculators
Full Loan Market overview including How Brokers Work section
Prominent Contact Forms on most pages designed to collect real time consumer enquiry.
Enquiries are contacted within 2 business hours on a working day
At-a-glance interest rate table displayed on all pages
Real time interest rate guidelines on the front introduction page
E Newsletter subscription facility
Site search facility
Please visit www.loanmarket.co.nz