NZ Loan was established about five years ago as a broker arranging personal and car loans and organising debt consolidation. For the last two years it has been owned by Radius Health Group that offers a range of health and life care services.
Radius, which operates in 20 centres around the country, is privately owned by New Zealanders.
Brian Winthrop, general manager of NZ Loan, says while his part of the firm might seem an odd fit, Radius has "similar skill sets" in its security business and it franchises through its @ your request brand.
NZ Loan currently has 10 staff and it’s looking to add a further four.
He says his company doesn't want to be viewed as a traditional mortgage broker. "We want to break the mould."
With home ownership becoming more and more difficult, his company sees an opportunity without waiting around for the government to come up with solutions, he says.
It is able to access products such as 100% home loans, 10-year interest-only loans and up to 95% finance to buy sections, so long as they are zoned residential and have services to the door, from banks and other lenders. It can also help source loans for bankrupts from the day they are discharged.
"We're prepared to look at all sorts of alternatives," Winthrop says.
