Lifetime Group gears up for mortgages - Good Returns

16 December 2016 by Lifetime in Home Loans, Rothbury, General Insurance

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”

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