|Approved Mortgage Brokers - providing a professional New Zealand Mortgage Broker service since 1996. Contact us today.|
Phone 09 834 2212
3 Waimuri Close
3 Waimuri Close
About Approved Mortgage Brokers
Approved Mortgage Brokers was founded in 1996 by Karl Baker and Lawrence Diack, who recognised that major changes were affecting home finance. Banks were offering more products, but they were also closing branches and reducing staff. People still need advice ? and banks now need intermediaries to provide this advice.
In 1991 only 1% of mortgages were placed through mortgage brokers. In 1996, the figure was more than 7%, and by 2007 has risen to around 40%. If overseas experience is anything to go by, up to 90% of people seeking home finance will soon be using brokers.
Lawrence Diack explains the appeal. 'We provide borrowers with free, independent advice on where to get the best and most suitable solutions for individual needs. We can offer mortgages from nearly all of the standard retail banks, plus 'niche' lenders such as HSBC, Sovereign, and Liberty. We are unbiased, personal, and effective ? over 50% of our business comes via referrals from satisfied clients.'
While the service is free for you, banks pay a fee to Approved.
Approved has written over $1 billion worth of mortgages so far. At the heart of the Approved system is the BEST computer software, which operates at two levels. 'First, it provides loan analysis and recommendation information,' Lawrence explains. 'Based on the needs of the client, it will help the broker see what is the best solution for our clients.'
See also: The benefits of a mortgage broker...
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