Today New Zealand Financial Services Group (NZFSG)/Loan Market, and non-bank lender Bluestone jointly announce a 5-year exclusive partnership which will see the introduction of a new range of home loan products that will be available via NZFSG/Loan Market advisers under the name “Select”.
The new Select range will deliver a unique new lending program to the market that will offer solutions for a wide variety of borrowers. Under the program, advisers from NZFSG and Loan Market will continue to provide loans from a wide range of lenders, while the Select range delivers home loan products not currently available anywhere else in the market so offering these as an option for customers, complements our current range of options perfectly. Products in the Select range will span the prime, near prime and specialist lending niches.
This exclusive deal will provide advisers with the opportunity to diversify their business and grow long-term value via proprietary, best-in-class loan products.
Advisers and their clients will benefit from superior service delivery that will see them supported from application to settlement by dedicated teams, which will translate into better experiences for borrowers and their advisers.
NZFSG CEO Brendon Smith said of the partnership: “We are truly excited to introduce the Select range to advisers in our network and their customers. An adviser’s first priority is to find solutions that can help their customers reach their goals and improve their financial lives, and we believe these new products will enable our adviser network to achieve this for more borrowers with a wider range of needs and circumstances.”
Bluestone Managing Director for New Zealand Peter Wood added: “It has always been Bluestone’s mandate to find solutions for borrowers who don’t fit in with mainstream banking, and this partnership with NZFSG and Loan Market allows us to do this for an even wider range of Kiwi property buyers. Borrowers under the Select program will benefit from individualised credit assessment free from automatic credit scoring, the ability to use a wider range of income sources when proving serviceability, and flexible full doc and alt doc lending options for both PAYE and self-employed borrowers.”
Select home loan products are available via all NZFSG and Loan Market advisers from 4 June 2019.
