BY SARAH NOTTAGE | PHOTOGRAPHY STEVE HUSSEY
Securing a home, business or rural loan is one of the biggest financial decisions you will ever make, and finding the best possible funding and pricing structures can be stressful and time-consuming. The past few years have seen significant changes to the banking industry and lending in New Zealand, especially around regulatory requirements and compliance, making the process more complex. The influx of private and online lenders now competing with traditional financial institutions for customers has created a highly competitive market, and can cause confusion among borrowers. The sheer quantity of online information available on current mortgage rates, loan terms and qualification requirements has become overwhelming. And who has the time or energy to work out the best deal?
Tony Alexander, chief economist at the BNZ for 25 years, who has published more commentary about the New Zealand economy than any other economist, gave the solution to prospective mortgagees in his January 2020 newsletter; “It’s worth using a broker to get the best deal. Broker use is far higher in Australia than New Zealand, but we will probably catch up.”
Prospective and current lenders should use the knowledge and expertise of a licensed broker. Gavin Frampton, loan adviser at Myloan, has been in the banking industry for 22 years in New Zealand, and brings extensive financial experience to the role. He has worked in the retail space with personal clients, lead branch teams as a branch manager, and for the past 10 years has been helping small to medium enterprises (SME) grow and develop across the region. Gavin says, “I have worked with clients across the Top of the South and the West Coast, which has given me an excellent understanding of seasonal flows and location-specific issues.”
Myloan is powered by and 100% owned by national award-winning Malloch McClean Tasman, Chartered Accountants and Business Advisors. Malloch McClean have been providing top-quality business and financial advisory services in New Zealand since 1933. As well as accounting services, Malloch McClean help people run smarter, better businesses, by providing business planning, coaching, advisory services and mentorship. Their ethos is ensuring that their clients achieve financial freedom, giving them the time and mind space to enjoy life. Gavin joined Malloch McClean as a business development manager and is ready to expand his responsibilities to include his role as loan adviser.
It is obvious that the team at Malloch McClean take the time to get to know and listen to their clients. Myloan was established when Malloch McClean (including Gavin Frampton) identified that many of their clients don’t have the time or the knowledge to navigate the loan process, and need expert help. Myloan has the market knowledge, experience, and the time. Plus, broking services don’t cost the client anything, as the lender pays Myloan directly.
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Gavin Frampton, centre, shares his expertise on home loans, business loans and refinances
Wide-reaching services
You can use the analogy of a bicycle wheel to describe the range of advisory services on offer – Malloch McClean Tasman is the hub and therefore the power of the wheel, and Myloan is one of the spokes. Gavin says one of the many advantages of using Myloan to secure your loan is that not only do you receive specialist loan advice, you have access to accountancy and business advice, tailored to your individual needs. “I pull in the right experts at the right time – we work as a team to determine how best to structure your lending requirements.” Myloan is affiliated with all the main trading banks and up to 30 mortgage providers, which means they have an excellent chance of finding you a deal that suits your needs.
Gavin has a calm, reassuring presence, and is clearly committed to building professional relationships with his clients and colleagues, based on trust and professional integrity. “I believe the key to structuring the best loan is taking the time to get to know and understand my clients’ specific needs. From first-time home buyers to property investors and those new to business, everyone’s situation is different.”
He also acknowledges the importance of proactive, transparent communication throughout the loan application process. “The amount of information the banking industry requires to approve a loan these days is significant, and time frames can be tight. I always ensure information is obtained and submitted to lenders in a timely manner, which meets the regulatory requirements for ourselves and our lenders, and gives peace of mind to my clients.”
A dedicated father of five children aged between seven and 17 and a small business owner in Motueka, Gavin is not only discerning about how he spends his time outside of the Myloan office, he has clear reasoning behind his choices. He also applies the advice he gives to his clients within his personal life; as a father, community member and small-business owner. In essence, he ‘practises what he preaches’. When his 12-year-old son tells him, “I want to be a billionaire”, Gavin gently enquires how his son is going to achieve his goal, and guides him to where he needs to find the information to help him on his way. “Random questions from my kids help to keep things fresh for me at work – I am constantly reviewing how to frame my advice and the questions I need to ask to help my clients.”
Local application
Gavin volunteers with Land Search & Rescue (LandSAR) and is board chair for Motueka South School. “My involvement with LandSAR has expanded my understanding of the local and wider geographical and social community, which has informed my practice as a loan adviser – I have multiple connection points from which I can source information for clients who may be new to the area.” Gavin’s ability to see the big picture, synthesise the information, apply it to the local context and communicate it effectively has been invaluable in his role as board chair for Motueka South School. “I can help with its strategic direction, so that the school is aligned to the Ministry of Education guidelines and keeps on track to ensure a positive future for its students and their achievement.” When it comes to their own small business, Gavin applies the same advice he would give to his clients in his role as a business adviser – regularly reflecting with his wife to make sure that their business is expanding and heading in the right direction.
Gavin from Myloan encourages you to get in touch with him and have a chat, no matter what your loan requirements are, or wherever you are based, throughout New Zealand.