EDITORIAL

Advisers rocking it in tough times

Head office 1448A Hinemoa Street, Rotorua PO Box 2011, Rotorua P: 07 349 1920 F: 07 349 1926 E: philip@tarawera.co.nz Publisher Philip Macalister Subeditor Dawn Adams Contributors Michael Lang, Paul Watkins, Steve Wright, Michelle Sargeant, Adrienne Church, Mark Collins Design Samantha Garnier C ovid-19 is certainly causing disruption across the country and we are bombarded about how some businesses are significantly suffering.

However, mortgage advisers are rocking it. Feedback from the industry is that advisers have never been busier. Indeed some industry leaders suggest that more than 50% of home loan originations are coming through the adviser channel.

This would be a real milestone for advisers. It's times like this that show how much value advisers can add to their clients.

On the downside though it is clear that banks are making life incredibly difficult with some of the worst turnaround times in recent memory. Added to that we keep hearing how hard it is to get, what previously would have been bankable deals across the line.

No doubt this is good news for the nonbank sector. On this front we have heard a number of stories where non-banks are smashing old monthly records.

Adding to the good news story is that the housing market is much stronger than many expected it would be. Whether this is sustainable or not is the unknown. But many factors look supportive including historically low interest rates, many New Zealanders returning home and maybe in these times, people are being conservative and just want the security of a roof over their heads.

Conference update

Recent months have thrown plans for this year’s TMM Better Business Conference up in the air. We felt comfortable New Zealand was cruising along nicely in Level One and the conference could go ahead.

However, the community outbreak in Auckland; plus our preferred venue being used as a managed isolation facility, has made us rethink.

At this stage we are postponing the conference until the first quarter of next year. Hopefully, we will have some more certainty about what we can do then.

We toyed with a virtual conference, but we know how much you all enjoy the social interaction with your peers.

Stay safe out there and keep up the good work.

Philip Macalister Publisher

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