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


United Home Loans Acquisition Grows Business

13 July 2006

United Home Loans Acquisition Grows Business

United Home Loans Limited has announced a significant acquisition which will see the company grow its mortgage book by 17 percent to $300 million.

United Home Loans has purchased a $44 million mortgage book from Equitable Residential Mortgages, which is part of the Equitable Group that specialises in providing first mortgage commercial property and project finance.

United Home Loans is part of the Hanover financial services group. Hanover chairman, Greg Muir, says the purchase adds useful scale to United Home Loans’ business and further diversifies the business with the addition of the Origin (subsidiary of ANZ National Bank) funding line.

“The fact that United Home Loans is increasing its mortgage book is evidence of the strength of this business in the financial services market. The new portfolio is a prime book of quality mortgage clients which will further reinforce United Home Loans’ position.”

United Home Loans General Manager Robert Redford says the acquisition will enable United Home Loans to continue to lead the market with additional tailored products that will meet changing customer needs.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>


Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>