In a growth move, NZHL (New Zealand Home Loans) is taking a majority stake in successful New Zealand mortgage and insurance aggregation and technology business, Link Financial Group (LFG) – better known for its Mortgage Link brand.
NZHL is a home loan and insurance adviser network geared towards helping people pay off their home loans and achieving financial freedom faster. A subsidiary of Kiwi Group Holdings (KGH), NZHL is 100% Government owned and operates independently with its own Board and growth aspirations.
NZHL Independent Chair Richard Westlake says Link Financial Group is another Kiwi success story that represents a shared growth opportunity.
“In NZHL and LFG you’ve got two financial services businesses with more than 50 years in the New Zealand market between them. We’re a ‘Passionately Kiwi’ business and delighted to be keeping it Kiwi with this investment,” says Richard.
As more of an aggregation and technology business – that supports advisers through LFG and Mortgage / Insurance Link customer facing brands – LFG will operate separately, with NZHL input and oversight at Board level.
NZHL CEO Kip Hanna says although NZHL and LFG have different client propositions both businesses are committed to helping Kiwis get ahead financially.
“The New Zealand adviser market is growing, as more people want personalised service and guidance around their home loans, so despite broader economic headwinds we are optimistic about the opportunity this acquisition will bring for both businesses.”
“We’re also looking forward to utilising the New Zealand technology expertise of LFG – particularly their proprietary advisory software – Advice Link,” says Kip.
LFG CEO Josh Bronkhorst, who is staying invested in and will continue to lead LFG, welcomes NZHL’s investment and says it’s an exciting time for both businesses.
“While it will pretty much be business as usual for our people and our clients, it’s great to have NZHL on board to help us drive the business forward and maximise future growth,” says Josh.
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New Zealand Home Loans (NZHL) is a passionately Kiwi, passionately local home loan and insurance adviser network that’s currently helping more than 50,000 New Zealanders save millions of dollars in interest costs every year. Part of Kiwi Group Holdings Limited (KGHL), NZHL operates with an Independent Board and 70 local business owners nationwide. NZHL believes in helping Kiwis achieve financial freedom, faster and takes a structured, personalised approach to bring this to life.
Link Financial Group (LFG) is a 100% New Zealand owned mortgage and insurance aggregation business supporting advisers through the LFG and Mortgage / Insurance Link brands. LFG supports 200 plus adviser businesses with annual lending of almost $3 billion. LFG is also home to FG Link (Fire and General insurance arm) and a technology business in Advice Link – LFG’s own proprietary adviser software.