Lifetime Group gears up for mortgages - Good Returns
Lifetime Group gears up for mortgages - Good Returns
It has formed a strategic partnership with the Rothbury Group which see it take over Rothbury’s life insurance and mortgage businesses. Rothbury gets Lifetime’s general insurance business and it is also is taking a cornerstone shareholding in Lifetime.
Rothbury, which is the fourth largest general broker in New Zealand and part of the ASX-listed Steadfast Group, has bought a 19.5% stake in the business for $8 million.
Lifetime’s mortgage business will get another eight brokers, bringing the total to 19, and it will generate around $400 million in loans a year.
Lifetime chief executive Mike Jones says that he sees “real potential for growth in the mortgage business”
In our day, the current Coronavirus pandemic is new, but a crisis having an impact on share markets is not new at all.
As we navigate a rather turbulent time in the market, many of us are wondering what impact this will have on our KiwiSaver come retirement, and what, if anything, we should do. Lifetime Adviser Michael Heriot explains.