Non-bank makes move into New Zealand market

by Adam Smith26 Jun 2012

An Australian non-bank lender has made a push into the New Zealand market with a new pilot program.

Resimac has announced it will soon launch a pilot program to bring some of its mortgage offerings to the New Zealand market. The program will see New Zealand borrowers gain access to the lender's standard home loan, non-resident loan and low-doc product.

The move comes after Resimac acquired a majority stake in NZF Home Loans in December 2011. The company continues to service the NZF mortgage book.

Resimac chief operating officer Allan Savins said the pilot program will precipitate a full launch of the lenders products in New Zealand later in the year.

"Resimac is committed to the New Zealand market, and we are thrilled to introduce our home loans with our partners through this pilot. Our dedication and experience has ensured Resimac's success for more than 27 years, and we are confident that we can add significant value to the New Zealand mortgage market," Savins said.