Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

New Zealand Home Loans - Statement from Sovereign

22 March 2206

New Zealand Home Loans - Statement from Sovereign

Sovereign has a strong and positive relationship with New Zealand Home Loans (NZHL), and both parties are committed to this continuing following the purchase by Kiwibank of an equity stake in NZHL.

NZHL have given us strong assurances that the existing NZHL home loan mortgage customers will not be moved to Kiwibank. As a consequence the equity position taken by Kiwibank will have no immediate impact on Sovereign’s existing home loan relationship with NZHL. Sovereign will continue to support NZHL and existing home loan customers.

While Kiwibank’s equity investment will clearly see a reduction in the level of new loan volume NZHL places with Sovereign, we are in a strong business growth phase. We anticipate our volumes and market share will continue to grow across a diverse range of advisers.

Sovereign’s risk product relationship with NZHL is not impacted by this purchase.

Sovereign has enjoyed a long-term partnership with NZHL and we are proud of the part we have played in their development into a successful business. We see the Kiwibank relationship as a logical step for them and wish them all the best for the future.

Sovereign is New Zealand's largest life insurer and non-bank home mortgage lender.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: