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Refinancing can be stressful, especially when accounting is not your forte’. Steve has always taken over the process, telling us exactly what to do and what not to do and has made the process very smooth. I highly recommend using Steve as a Mortgage Broker...
- Greg & Nancy Doherty

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Debt consolidation loansRefinance your Freedom Mortgage

Refinance freedom MortgagesIf your mortgage is with Freedom Mortgages also known as TEA Custodians. And you feel like this're not getting the service you want – or you're looking for a better deal - refinancing your Freedom mortgage (now Pepper Home Loans) can be an option for you.

Generally we can get a reduced interest rate and better more flexible mortgage structure with repayments to suit you - not the lender.

ADVOCO's principal, Steve McGowan understands and keeps up to date with the ever changing lending policy of each of the banks. This allows him to get the right home loan for you and your family.

Steve also has an ability to be able to see "outside the square" when it comes to mortgages. "Finding a solution for difficult home loans is the most rewarding part of the job." says Steve.

The highlight of his career was helping five families have their home returned to them in a illegal "buy back scheme." For this Steve was publicly thanked by Kevin Milne on TV One's Fair Go show. For personal trusted service call Steve today on 0800 ADVOCO (0800 238 626)

Withdrawal of lending from GE affects non-banks
Thursday, October 30th 2008, 3:22PM
by Maria Scott

Mortgage lenders have this week been considering how they will cope with the decision by lender GE to stop funding loans through third parties in New Zealand and Australia. The lender’s decision will come as a blow to the non-bank finance sector which has seen the withdrawal of numerous companies over the past year.

GE, with its sister company AMS had been one of the main sources of funds for specialist lenders and mortgage brokers in New Zealand, particularly for borrowers who did not fit standard bank lending criteria.

Louise Ledger, of Global Home Loans and Moorhouse Mortgages, based in Christchurch said that GE represented half of her funding although only 10% of business over the last year as GE’s lending criteria had tightened considerably. She has other lines of funding open through Moorhouse Mortgages but would be seeking new funding sources.

She said that she had been informed about GE’s decision last Friday afternoon and was working this week to finalise applications to GE by today (Friday 31 October 2008), the funder’s cut-off date for new business.

Fraser Cann of Whangarei-based Presto Mortgages said the GE move would affect the company’s prime and specialist products including its 100% and credit-impaired loans.

Presto would suffer a reduced revenue stream but was funded by two other active funders and remained in a strong position.

William Cairns of the Cairns Lockie group said that GE’s announcement had been unexpected. His group had three other sources of funds including its finance company which had applied for a guarantee under the Government’s deposit guarantee scheme. This could result in the finance company being an important source of funds next year but Cairns said that the non-bank sector of the finance market would continue to shrink.

Freedom Mortgages (formerly Resi Mortgage Corporation) also received funds from GE but general manager Laura Gregory said she was unable to comment until directors had met.

Maybe your mortgage is with one of the many home loan lenders that have 'packed their bags' and left the market such as; Argosy, Bluestone Mortgages, Freedom Mortgages, GE Money (TEA Custodians, AMS) Property Finance, United Home Loans, Pacific Home Loans, Pioneer or Wizard Home Loans, we may be able help you refinance back to a bank.

In May 2011, GE Capital has sold its $5 billion Australian and New Zealand residential mortgage book to Pepper Home loans in a deal that includes a total of $1 billion worth of mortgages in New Zealand. The new Pepper Home loans mortgage book includes; Argosy, Freedom Mortgages, GE Money (TEA Custodians, AMS), United Home Loans, Pacific Home Loans, and Wizard Home Loans.

Refinance Argosy  Refinance Bluestone Mortgages   Refinance Freedom Mortgages   Refinance GE Money   Refinance Property Finance  

Refinance United Home LoansRefinance Pacific Home Loans Refinance Pioneer   Refinance Pepper Home Loans  Refinance Tasman Mortgages   Refinance Wizard Home Loans

Click on the home loan providers logo for more information


We eat and breathe bank lending policy, with our 24 years of banking and broking experience we can give you the advice you need to get you into the right home loan.

Depending on your home loan contract Freedom Mortgages break fees may apply.

Call us on 0800 ADVOCO (0800 238 626) or email us.

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