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


New property package cuts through the red tape

Media Release

6 November 2006

New Nationwide Finance property package cuts through the red tape for business owners

Nationwide Finance Limited is cutting through the red tape by offering business owners an innovative new finance package to enable them to purchase their own premises.

Nationwide Finance’s new ‘Owner-occupied’ property finance package allows business owners to reap the benefits of owning their own premises without the red tape that commercial banks would normally impose. CEO Steve Wilson says, “Commercial banks will finance these sorts of deals, but business owners often end up paying a high price in terms of the restrictions placed on them such as cross-collateralisation of securities, equity covenants and heavy principal repayments.”

Mr Wilson says, “Our new package enables business owners to maintain crucial separation between their business finances and their new property asset, meaning current banking arrangements are not impacted and business owners retain maximum flexibility to run their businesses as they see fit.”

“This package offers business owners the chance to make a significant commercial property investment with the prospect of future capital gains, enjoy security of tenure and protect the business against rising rents. It also allows business owners the freedom to make alterations to their premises to suit the needs of their business and there is even the potential for a future retirement income stream.”

Nationwide Finance is offering interest only options for up to 80 percent of the property value which helps free up cash flow – a major issue for many businesses. Nationwide Finance’s own specialists will take care of all the arrangements, removing the hassle for business owners and freeing them to get on with day-to-day business..

Mr Wilson says, “New Zealand businesses are known for their can-do attitude, but they need to the right financial tools to help them along the way. Our Owner-occupied package means business owners can make a solid investment in their future without having the day to day operation of their business tied in knots.”

Nationwide Finance’s launch of its new Owner-occupied property finance package coincides with the company’s recent brand refresh. Mr Wilson says the new look brings a more modern feel to the company’s identity and reflects plans to bring more new products to the market, tailored to the needs of New Zealand businesses.

“Some months ago we identified the need for a commercial property package which enabled our customers to get the benefits of property ownership without suffocating restrictions. Our new Owner-occupied package is the answer to that need and we’re already working on other innovative business financing solutions to be launched in the near future.”


Nationwide Finance Limited – Key Facts

* Nationwide Finance has provided financial services to the economic backbone of New Zealand for more than 33 years.

* Nationwide Finance is part of the Hanover Group - New Zealand’s largest privately owned financial services provider. Being part of the Hanover Group gives Nationwide Finance access to significant expertise in legal services, finance, technology, and market information.

* Over three decades, Nationwide Finance has built a sound finance book across a range of asset types; principally transport, plant and equipment and property. More recently the company has further diversified its business into technology equipment leasing.

* Product offerings include: specialist business finance; commercial finance; property finance; technology and equipment leasing.

* Nationwide Finance has a highly experienced board of directors including well regarded independent directors Sir Tipene O’Regan, George Brooks and Chairman, Greg Muir.

* The company employs 40 staff, with offices in Auckland, Wellington and Christchurch.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news