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New Zealand’s best mortgage advisers have led the way by growing their market share, even in a year marked by affordability constraints, cautious buyers, and tightening lending conditions.
The top performers also had to contend with an overhaul in compliance requirements, lending criteria and disclosure obligations. There was the implementation of the final phase of the Anti-Money Laundering/Countering Financial Terrorism (AML/CFT) Act, effective 1 June 2025, further increasing compliance obligations. New risk-rating guidance explicitly requires advisers to assign risk ratings to new customers, maintain records and review or update them as part of the customer’s due diligence.
“It’s challenging to be a mortgage adviser in this environment, but this is the new ‘norm’ and advisers must have the agility to navigate the continuous change in a manner that is sustainable,” says Katrina Shanks, CEO of ANZIIF. “Heightened competition, including from new entrants and digital platforms, requires advisers to differentiate themselves through service quality, marketing and client relationship management.”
On the ground, the largely manual nature of bank processes continues to drive significant administrative workload, with advisers regularly following up with assessors and stepping in to keep applications moving. In this environment, frequent communication, responsiveness and relationship management have become just as important as structuring the deal itself.
At the same time, mortgage professionals face the ongoing task of educating the public about what they do and why it matters. While adviser usage is increasing, there remains a long way to go in building consumer awareness and trust.
“Far too many Kiwis still don’t understand what mortgage advisers do or the value we offer,” says Leigh Hodgetts, country manager of FAMNZ. “This challenge can only be overcome if the industry works together, and each mortgage adviser can help advance our industry by not only providing great service but also proactively promoting what they do in their community and the advantages to consumers of using their services.”
Ninety-four advisers earned a place in NZ Adviser’s 2025 ranking. Together, they recorded startling figures, settled $8.35 billion in residential loans, representing a 65% increase from 2024, and wrote nearly 16,400 loans, a jump of 79%. These numbers reflect the reach of the top-performing advisers and the part they play at the heart of the country’s mortgage market.
1. Rapid growth in 2025
Both the total value and the number of loans written by top advisers saw dramatic growth in 2025 compared to previous years.
The increase is much sharper than the steady growth seen from 2023 to 2024.
2. Average loan size: stabilising or decreasing
While the total value and number of loans increased, the average loan size did not increase proportionally – it actually dropped in 2025.
This suggests that the growth in 2025 was driven more by a higher volume of loans rather than larger individual loans.
3. Possible explanations
• The surge in 2025 could be due to:
• market recovery or boom (e.g., post-pandemic rebound, lower interest rates and government incentives)
• increased activity among first home buyers or those seeking smaller loans
• expansion of top advisers’ client base or improved operational capacity
4. Industry implications
The data indicates a robust and expanding mortgage market in New Zealand, especially in 2025.
Top advisers are handling more clients and more loans, possibly reflecting greater consumer confidence or accessibility in the housing market.
Need to handle higher volumes efficiently, likely investing in technology and process improvements.
The decrease in average loan size in 2025 may point to a broader base of borrowers, including more entry-level or lower-value loans.
The rise in adviser-led lending points to the growing number of borrowers seeking knowledgeable guidance in a difficult market.
According to FAMNZ’s inaugural Consumer Access to Mortgages 2024 report, consumers cited trust and satisfaction as reasons for working with an adviser. Notably, nearly half of the new mortgages in the 12 months to July 2024 were arranged through a mortgage adviser, up from 35% historically.
Other findings included:
59%: mortgage holders spending <30% on repayments
49%: future first-time borrowers planning to use an adviser
80%: clients satisfied with the proprietary channel
87%: clients satisfied with the adviser experience
86%: clients who trust their adviser
35%: new mortgages via advisers (historical average)
46%: new mortgages via advisers (last 12 months to July 2024)
NZA ranked advisers based on the total value of residential loans they settled between 1 March 2024 and 28 February 2025. Aggregators verified each adviser’s figures, and only those who settled at least $50 million during the period were eligible. The final list celebrates the top performers, ranked by total residential loan value settled.
Shanks adds, “Most mortgage advisers in New Zealand typically settle between $10 million and $30 million a year; hitting that $50 million mark really puts you in a different league. It shows there’s a lot of trust from clients, plus it points to advanced operational skills and a really solid network of referrals.”
Hodgetts agrees, “This is quite an achievement, as the average settled loan for an adviser sits around $25 million per annum. That would put the adviser in the top 10% in New Zealand.”
The best mortgage advisers’ achievements occurred during a period marked by elevated borrowing costs, subdued credit growth and soft housing demand. The Reserve Bank of New Zealand held the official cash rate at 5.50% through much of 2024, keeping borrowing costs high and limiting new lending activity.
Cotality’s data shows national property values fell 5% between February and November 2024, with sales volumes up 9% year over year in November but still 10% below seasonal norms. Buyers had plenty of choice, with more than 30,000 listings in November, 25% above the five-year average and continued to negotiate on their terms as confidence and affordability influenced their decisions.
What separates the best advisers from the pack is that they combine technical skill, ethical practice and smart systems with a commitment to client outcomes, according to Hodgetts.
The most successful advisers demonstrate:
leadership grounded in long-term client relationships
strong lender and referral networks
advanced compliance, CRM and digital tools
scalable businesses with effective team support
a future-focused mindset and contribution to industry standards
As mortgage rates eased later in the year, activity picked up, but the recovery remained modest compared to previous levels.
Hodgetts notes that advisers are managing persistent bank delays, affordability restrictions and changing client expectations by leaning more heavily on technology, alternative lenders and education. “The adviser channel remains strong and is capturing increased market share and importance,” she says.
Advisers at the top are managing high volumes without sacrificing service quality. Hodgetts says that scale is achieved not by working in isolation, but by building systems around the adviser role. Cotality’s June 2025 report puts the value of New Zealand’s residential real estate at $1.64 trillion, making up 43% of household assets. It’s a scale that makes clear why mortgage lending remains central to household wealth and why advisers play such an important role in guiding borrowers through it.
When the going gets tough, the best mortgage advisers buckle down and do what they do best. This is what Claire McArthur did and ended up doubling her loan settlement volumes compared to the previous year.
Ranked No. 79 on NZA’s Top Advisers 2025 list, the mortgage adviser and owner of the newly rebranded SHARE NZ The Advisory said now the push is on to do it again. “Our mindset was not to worry about what the gloom and doom story was in the market; it was to get out there, focus on what we do well, and make the best of an average situation.”
With a background in residential and commercial lending, McArthur found a niche in the residential market, working with self-employed clients and the small- to medium-sized enterprises that make up the backbone of New Zealand’s economy.
McArthur and her Level 5 qualified loan writer, along with her office administrator, also seized the opportunity during a temporary market slump to ramp up their marketing efforts. The thinking was that even if there were a smaller pie of business, the team would take a bigger slice.
“We also invested in our people and resources,” McArthur adds. “We trained and upskilled the team, which made a huge difference. As a business owner, I want to share in this success and pass on some of the responsibilities and let others shine.”
Technology has also been a game changer, particularly in the business’s utilisation of Trail CRM, which offers various tools to help run operations more efficiently. “This all goes back to how we managed to double the business without increasing our people resources,” she explains.
For Financing Futures director and mortgage adviser Connor Ward, living and working in the small but active Nelson market has brought nothing but opportunities. For the third straight year, Ward cracked NZA’s prestigious list, climbing in rank to No. 28 in 2025.
This achievement is nothing short of extraordinary. In just eight years, Ward has progressed from a support staff member to becoming an adviser in his own right for the last five years, while becoming a co-owner of the predominantly residential-focused business two years ago and shaping it into what it is today.
“I’m the only adviser in our business, but I have eight support staff who help me do what I do,” he explains.
Despite having a challenging 2024–25 personally, which saw Ward and his wife share caregiving duties for their children, one of whom was undergoing medical treatment, he attributes his top performance to organic growth.
“We’re not doing any advertising; it’s all word of mouth and people saying good things about us,” he notes. “I’ve built good relationships with a lot of different referrers, particularly real estate agents who send business to me because they know I’ll get it done rather than sending it to their in-house finance expert.”
Ward believes the still elevated but falling rate environment has prompted many borrowers to seek advice, requiring him to hire extra staff to help with the increased volume and ensure top-quality service.
NZA’s Top Advisers 2025 are no strangers to helping clients overcome challenging situations.
Shanks lists the key characteristics and attributes that leading advisers must have:
Great communicators: “Keep things clear and simple, so their client always knows what’s going on.”
Personal touch: “Get to know their clients’ goals, making sure their advice actually fits their situation.”
Expert knowledge: “Up to date with the latest in the market and knows how to find the best deals.”
Value for money: “Help clients save wherever possible, whether it’s getting a better rate or finding the right lender.”
Making it easy: “Handle the heavy lifting of comparing lenders, sorting paperwork and negotiating terms.”
The following examples show how two of the best mortgage advisers tackled complex situations.
A self-employed individual was interested in buying a new property but felt unsure. The client’s industry, linked to construction, had been under pressure for months. On top of that, they were juggling Interest Rate Differential (IRD) debt and several hire purchases and worried about assuming more debt.
McArthur says, “I told them, ‘Let’s have a good chat; give me all your information. I need you to be transparent with me and tell me what’s going on and how you ended up in this situation.”
McArthur reviewed the client’s full financial picture, spotted major gaps in their accounting, and recommended they work with a new, more proactive professional on the IRD issues. She also helped consolidate their financial position to make repayments more manageable.
With a well-structured plan in place, the client secured the home they wanted and stayed on track with their mortgage repayments.
“Sometimes it just takes calling a plumber to fix a plumbing issue or calling a financial adviser to come in and look at your overall position and see if there’s a better way of setting things up for you.”
An investor’s building society refused to provide further lending. “She’s very impressive and a single mum who built her own business with a portfolio of seven investment properties,” explains Ward.
Despite her success, the lender turned the client down for additional funds and denied a request for better rates, citing that her situation was too complex and that no other bank would take her on.
“It took a lot of work, but we refinanced her with a great end result,” Ward says. He secured a package that reduced repayments by approximately $7,000 per month, locked in significantly lower interest rates and delivered a $26,000 cash contribution.
Ward’s work transformed the client’s financial position. “In any other context, someone giving you $26,000 would be a life-changing amount of money,” he says. More recently, and thanks to a large drop in repayments, he also helped the client secure approval for another $1 million in lending.
McArthur observes it’s an interesting time in the current economic environment, with rates falling but the cost of living rising. That creates a slight offset for clients, she notes. When clients come to her unsure and worried about repayments, but eager to buy a new home, she focuses on what will make the difference.
“I always take it back and say let’s not worry about the interest rates but look at the actual figures. What are the dollars that are going in and out of your household pot?” she explains. “And then, what will that leave them with to do whatever is important?”
McArthur helps clients see the impact on their weekly budget. This approach, she says, helps ease their concerns and gives them confidence to make informed decisions about their next steps.
Ward has observed similar trends and feels the general mood is more positive, but key concerns remain. He notes that many clients see “a lot of light at the end of the tunnel” as interest rates drop and property prices may start to lift again. But beneath that optimism, he says the biggest worry is about whether banks are looking after them.
“One of the biggest complaints we hear is that the banks have lost their personal touch,” he explains. “That’s where advisers need to step up. Clients shouldn’t just see us as a place to shop around for a price, but as someone advocating for them in one of the biggest financial decisions of their lives. They deserve to be looked after, get good advice and have a secure future.”
Ward says his focus is on offering what banks often don’t. He cites time, personal service and advice that puts clients’ needs first.
2025 saw a major surge in both the total value and number of loans written by NZA’s top mortgage advisers in New Zealand.
Growth in loan volume outpaced growth in average loan size, indicating a shift toward serving more clients or smaller loans.
The data suggests a healthy, expanding mortgage market with increasing participation.
Top advisers are adapting to serve a larger, possibly more diverse, client base.
Top mortgage advisers are becoming more client-centric, tech-savvy and flexible in response to changing client needs. Their ability to combine digital efficiency with personalised, expert advice is key to thriving in a rapidly evolving market. This adaptability is reflected in the growing number of clients served and the increasing diversity of those clients, as seen in the recent surge in loan volumes and the drop in average loan size.
In April, NZ Adviser launched a call for nominations for its ninth annual Top Advisers report. To be ranked alongside New Zealand’s broking elite, advisers had to provide their contact details and the total value of residential loans they settled from 1 March 2024 to 28 February 2025. Advisers were also asked to provide their aggregators’ names and contact details. All of these aggregators were contacted for verification as part of the ranking process, and only fully verified figures were accepted for the final ranking.
To be eligible, entrants must have settled a minimum of $50 million in total residential loans. After reviewing the nominations, the NZA team selected 94 top performers for the 2025 Top Advisers list. The list took into account only residential loans, and the advisers were ranked in order of the highest value of residential loans settled within the specified period.