The bank says around a third of its business now comes from advisers and chief executive Shaun Drylie gives his views on commission models.
Drylie says the bank’s push into the mortgage adviser market has been “very positive for us". He says more than a third of its home loans are originated through this channel and it is “good quality business". “It is a really positive channel for us.” Under SBS’s model advisers can deal with branches and he says some advises are frustrated dealing with broker centres, which is the model others use
The Reserve Bank today left the Official Cash Rate unchanged while saying major challenges remain.
The Reserve Bank’s decision to hold the OCR at 1.75% was expected, but economists are surprised at its projection the OCR will remain on hold until late 2019.
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An official cash rate cut this week would come as a major surprise to all economists.
ANZ's operations in New Zealand have reported a 24 per cent increase in profit in the first half of the financial year, to $928 million.
It seems that locally owned banks rule the roost when it comes to customer satisfaction, with three New Zealand banks taking out the top awards in Consumer NZ’s latest awards.
Concerns over the activities of brokers at Brilliant Finance Ltd have led Mortgage Express to cut their ties with them and go to the Financial Markets Authority (FMA).
Recent increases in mortgage rates are set to continue, but this will help ease the risks house price inflation poses to New Zealand banks, Standard & Poors says.
Personalised rates based on credit scores will now be available for personal loans at the Co-operative Bank which has adopted a risk-based approach to applications.