New Zealand Mortgages And Securities Limited

What New Zealand Mortgages And Securities Limited does

New Zealand Mortgages and Securities Limited (NZMS) is a privately held, Auckland-based non-bank property development finance lender founded in 1983. It operates as the captive financing arm of Mansons TCLM, New Zealand's largest private commercial developer, whose portfolio exceeds NZ$5 billion. The firm finances property developers and investors across New Zealand, primarily in Auckland, with loan sizes ranging from NZ$500,000 to NZ$100 million and a stated $450 million+ of capital available to deploy, having funded over 200 projects and more than NZ$5 billion cumulatively over its history.

NZMS offers three integrated products: Development Finance (funding up to 100% of project costs across land acquisition, soft costs, and construction), Bridging Finance (short-term facilities for transactions outside bank criteria, including capitalised interest and high-LVR structures), and Mezzanine Finance (subordinated debt priced at approximately 15-25% total cost, sitting between senior bank debt and equity). Its distinguishing technical feature is a Cost-to-Complete (CTC) funding model, in which the facility is sized to 100% of remaining project expenses and recalibrated monthly against independent Quantity Surveyor certifications, with built-in equity release during construction. This structure is designed to enable developers to run multiple projects concurrently rather than sequentially.

The business model is relationship-driven and intermediated. NZMS earns interest income, establishment fees, and management fees on individually structured project facilities, supplemented by broker commissions paid to PAA-referring intermediaries and revenue-share arrangements with all five major New Zealand banks (ANZ, ASB, BNZ, Kiwibank, Westpac) on co-funded projects. Go-to-market is enterprise field sales supported by a dedicated Business Development Manager team, supplemented by PAA broker referrals and direct inbound contact; the firm operates from a single Auckland headquarters with no disclosed international expansion. The company is family-controlled by the Manson family across three generations and has no public listing or disclosed institutional investors.

Name

New Zealand Mortgages And Securities Limited

Legal name

New Zealand Mortgages And Securities Limited

Website

https://www.nzms.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

New Zealand Mortgages and Securities (NZMS) is a privately held, Auckland-based non-bank lender providing development, bridging, and mezzanine finance to property developers across New Zealand. Founded in 1983 and backed by Mansons TCLM, it funds projects up to NZ$100 million using a proprietary cost-to-complete structure.

Ownership category

akta.pro rank

Product category

Property Development Finance

NAICS

Real Estate Credit (522292), Credit Intermediation and Related Activities (522)

SIC

Mortgage Bankers & Loan Correspondents (6162), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Spec/Tract Builder Construction Financing (FSALAHAC)

akta.pro secondary industries

Commercial/Non-Residential Construction-to-Perm Financing (FSALAHAE), Infrastructure & Project Finance Private Debt (FSANADAH)

Keywords

• Property development finance
• Bridging loans
• Mezzanine finance
• Construction lending
• Non-bank lending

Headquarters

HQ city

Herne Bay

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Development Finance Interest: Interest income from property development loans covering land acquisition, construction, and soft costs. Loans structured as cost-to-complete facilities with funding from 85-100%+ of project costs.
2. Bridging Finance: Short-term property financing for transactions outside bank lending criteria. Revenue generated through interest rates and fees.
3. Mezzanine Finance: Subordinated debt financing ranking behind senior bank debt. Total cost typically ranges 15-25% comprising interest rate (approximately 15%) plus establishment fee (approximately 3-10%).
4. Establishment and Management Fees: Fees charged for loan setup, facility management, and drawdown processing, including amounts paid to mortgage brokers as commissions.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

NZMS is a non-bank property development finance lender that provides development finance, bridging finance, and mezzanine finance to property developers and investors across New Zealand. The company funds 85-100%+ of project costs including land acquisition, soft costs, and construction, using a Cost-to-Complete (CTC) funding model with monthly Quantity Surveyor-certified drawdowns and an equity release capability during construction.

Product overview

NZMS is a non-bank property development finance lender offering three integrated loan products: Development Finance for larger scale construction projects (including land acquisition, soft costs, and build funding up to 100% of project costs), Bridging Finance for short-term property transactions outside bank criteria, and Mezzanine Finance for complex projects requiring capital between senior bank debt and equity. The three products serve the property development lifecycle from acquisition through construction, with the ability to structure tailored solutions for projects that fall outside traditional bank lending criteria. NZMS operates primarily in Auckland and across New Zealand, with over $2 billion financed across more than 200 projects since 1983.

Differentiator

Problem solved

Functional benefit

Brands

• NZMS 1st: Sub-brand referenced on website with dedicated domain nzms1st.com

Products and services

• Development Finance Property development finance for larger scale projects, providing funding for land acquisition, soft costs (design, planning, consenting), construction and build funding, and highly geared finance including funding up to 100% of project costs. Targeted at property developers undertaking residential developments, townhouse projects, subdivisions, and commercial builds.
• Bridging Finance Short-term property financing for transactions that fall outside standard bank lending criteria, including situations where debt servicing is difficult, interest payments need capitalising, LVRs exceed thresholds, or property requires refurbishment. Targeted at property owners, investors, and developers needing short-term funding when traditional banks cannot move quickly enough.
• Mezzanine Finance Additional debt financing ranking behind senior bank debt for property development and investment projects, typically costing 15-25% total and structured between senior debt and equity positions. Targeted at developers, investors, and senior lenders requiring complex structured funding for large-scale residential developments, commercial projects, or investment structures.

Quantifiable outcome

• Over $5 billion in projects funded across 200+ developments
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core.

• PAA (Professional Advisors Association)coreChannel Partner/ Reseller/ DistributorStrong and well-established relationship with the mortgage broking community. NZMS provides development finance to broker clients and assists brokers with structuring larger, more complex, or syndicated bank proposals. NZMS offers same-day loan offers when required and pays brokerage commission directly to brokers upon settlement of each facility.
• ANZ Bank New ZealandcoreChannel Partner/ Reseller/ DistributorMajor New Zealand registered bank that co-funds development projects with NZMS. NZMS provides mezzanine or bridging finance alongside ANZ's senior debt on development projects.
• ASB BankcoreChannel Partner/ Reseller/ DistributorMajor New Zealand registered bank that co-funds development projects with NZMS. ASB provides senior debt while NZMS provides supplementary development finance.
• BNZ (Bank of New Zealand)coreChannel Partner/ Reseller/ DistributorMajor New Zealand registered bank partnering with NZMS on development project co-funding arrangements.
• KiwibankcoreChannel Partner/ Reseller/ DistributorNew Zealand registered bank that co-funds development projects alongside NZMS's lending products.
• Westpac New ZealandcoreChannel Partner/ Reseller/ DistributorMajor New Zealand registered bank co-funding development projects with NZMS where NZMS provides non-bank development finance alongside Westpac's senior lending.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Resimac: Australian non-bank lender (now part of Bendigo and Adelaide Bank) specialising in prime and non-conforming residential and asset finance. Comparable as a non-bank credit provider serving borrowers outside traditional bank lending criteria.
• Liberty Financial: Australian non-bank lender offering residential mortgages, investment loans, and asset finance. Comparable as a diversified non-bank lender with overlapping borrower segments and similar credit intermediation model.
• Pepper Money: Australian-headquartered non-bank lender with NZ operations, offering residential mortgages, asset finance, and commercial loans. Comparable as a non-bank credit intermediary providing flexible lending to segments underserved by banks.
• Heartland Group Holdings: NZX-listed NZ non-bank lender offering reverse mortgages, livestock finance, motor finance, and small business lending. Comparable as a larger, publicly traded NZ non-bank with broader product scope but overlapping credit intermediation model.
• Bluestone: Australian non-bank residential mortgage lender. Comparable as a non-bank lender providing prime, near-prime, and specialist mortgages to customers outside traditional bank criteria.
• La Trobe Financial: Australian non-bank lender and fund manager offering residential, commercial, and development property loans. Comparable as a non-bank property development lender with similar product mix and reliance on wholesale capital.

Direct peers

• Avanti Finance: New Zealand non-bank lender providing property, business, and personal loans. Comparable as a domestic non-bank credit provider serving borrowers outside traditional bank criteria, with overlapping customer segments in property investment and small business lending.
• First Mortgage Trust: New Zealand non-bank mortgage and investment manager. Comparable as a long-established NZ non-bank lender operating in residential and investment property finance, addressing similar borrower segments and product categories as NZMS.
• Squirrel: NZ mortgage broker and non-bank lender arranging home loans outside standard bank criteria. Comparable as a NZ non-bank residential property credit provider addressing similar 'outside bank policy' borrower segments.

Regional players

• Prospa: Australian-listed online lender to small businesses with a NZ presence. Comparable as a non-bank specialist lender to SME/property developer segments, though its core focus is broader small business rather than property development.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/NewZealandMortgagesSecurities
• Instagraminstagram.com/nzms.nz
• LinkedInlinkedin.com/company/nzms

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Zealand Mortgages And Securities Limited