Company Profile
NZF Group Limited Company Profile
Company History
NZF Money Limited commenced trading as New Zealand Finance Limited (NZF) in 1997 and listed on the New Zealand Stock Exchange in 2004 as New Zealand Finance Holdings Limited (NZFH). NZFH later changed its name to NZF Group Limited (NZF Group).
Subsidiaries and Joint Ventures
New Zealand Mortgage Finance Limited
This company is wholly owned by NZF and operates and a mortgage broker aggregator with a number of independent mortgage brokers contracted to the company. The company has broker agreements with most major lenders throughout New Zealand.
MPMH Limited
In 2007 NZF Group entered into a 50/50 joint venture with Liberty Financial (now Secure Funding Limited) to make a takeover offer for all the equity securities in Mike Pero Mortgages.
Mike Pero Mortgages was established in 1990 and is New Zealand's largest mortgage broking company. They have offices in Whangarei, Auckland, Hamilton, Tauranga, Gisborne, New Plymouth, Hawkes Bay, Palmerston North Wellington, Nelson, Marlborough, Christchurch, Timaru, Queenstown, Alexandra, Dunedin and Invercargill.
Each year, the company process in excess of $1 billion in loans and have over 70,000 customers.
Mike Pero Mortgages has become a household name and in a survey conducted by Colmar Brunton (Sept 09) 51% of New Zealanders who could name a mortgage broker said Mike Pero Mortgages was the first name that came to mind.
Mike Pero Insurance supports the Mike Pero Mortgage brokers customers by offering both Life & Disability as well as Genenal insurance solutions to their customer base. Thus increasing the number of products customers can access via the Mike Pero business and diversifying the income streams.
A new venture, Mike Pero Real Estate was established in February 2011 and is owned 50% by MPMH Limited and 50% by Mike Pero. The company was established as over recent years it had become apparent that Kiwis were increasing concerned with the typical real estate commissions being charged. Clearly the cost to sell real estate had to come down so while most national brands are at 4% plus GST. Mike Pero Real Estate set its commission at 2.95% plus GST, reducing to 1.95% plus GST beyond $390,000.
Today Mike Pero Real Estate is the fastest growing real estate company in New Zealand and has agents in Auckland, Christchurch, Nelson, Blenheim, Timaru and the Cook Islands.
Resimac NZ Home Loans Limited
NZF sold a majority stake in its Home Loan business in Decmeber 2011 to an Australian company Resimac Limited and retained a 20% interest Resimac NZ Home Loans Limited. Resimac is a large Australian based company which was established in 1985 and is one of the largest non bank lenders in Australia. Resimac NZ Home Loans Limited will continue the securitisation program established by NZF with the aim of becoming a major non bank lender in New Zealand.