HGH - Heartland Group Holdings

[Beagle]

http://www.interest.co.nz/business/7...-lending-kiwis

Pretty hefty cut taken by Lend Me. I have serious reservations about this sector and suspect the real winners will be the equity owners of the p2p lenders and the fraudsters who commit identity fraud and never make a payment.
Lots of risk of default all worn by the investors...hmmm.

[Baa_Baa]

Pretty hefty cut taken by Lend Me. I have serious reservations about this sector and suspect the real winners will be the equity owners of the p2p lenders and the fraudsters who commit identity fraud and never make a payment.
Lots of risk of default all worn by the investors...hmmm.

I share your reservations Roger. Although innovative, technically clever, and enabled by the FMC Act 2013, I can't help wondering if it's all a function of leveraging a frothy marketplace and is exposed to 'last in first out' risks. That and the nature of the low-doc arms length lending, has unquantifiable risks written all over it. LendMe (cheeky rip off brand name) does seem pitched at a much larger borrower though $20k - $2m. Their talk of aligning specific lender demographics with like borrowers is an interesting twist, it may even work. A league away from HNZ's Harmoney platform targeting the down and out's.

[iceman]

Co-Op,HNZ,TSB,or SBS.

I will narrow my punt down to SBS or Co-Op

[winner69]

That interest free period on the new lounge suite run out and payments now much higher? Contact XXX now to see what we can arrange to make your life easier. XXX a division of Heartland

Ad on the radio lately

Didn't properly catch who XXX was but not familiar

Any ideas

Growth must be getting hard to come by

[iceman]

That interest free period on the new lounge suite run out and payments now much higher? Contact XXX now to see what we can arrange to make your life easier. XXX a division of Heartland

Ad on the radio lately

Didn't properly catch who XXX was but not familiar

Any ideas

Growth must be getting hard to come by

Maybe this http://www.ifinanceloans.co.nz

[Beagle]

I share your reservations Roger. Although innovative, technically clever, and enabled by the FMC Act 2013, I can't help wondering if it's all a function of leveraging a frothy marketplace and is exposed to 'last in first out' risks. That and the nature of the low-doc arms length lending, has unquantifiable risks written all over it. LendMe (cheeky rip off brand name) does seem pitched at a much larger borrower though $20k - $2m. Their talk of aligning specific lender demographics with like borrowers is an interesting twist, it may even work. A league away from HNZ's Harmoney platform targeting the down and out's.

Good post. That's the part that concerns me the most. I finance website looks like a good clean one and is very well done but unsecured lending for weddings and travel and another subsidiary Holden financial services a division of Heartland bank is running a no wallet no worries marketing campaign on selected new Holden's, see www.holden.co.nz for details...basically marketing to people with no money to put down as a desposit and no payments till 2016. Prudent lending ? (shakes head ...did we learn nothing from the GFC) I dunno, none of my regular mates I communicate with by PM and e.mail seem concerned about this but I'm still really not so sure about this sort of lending...so just decided to air my concerns on the main forum and see what others think.
Does this sort of lending play out like a bad movie that we've seen before and don't want to see again ? Others would say this time its different....Hmmm

[axe]

Good post. That's the part that concerns me the most. I finance website looks like a good clean one and is very well done but unsecured lending for weddings and travel and another subsidiary Holden financial services a division of Heartland bank is running a no wallet no worries marketing campaign on selected new Holden's, see www.holden.co.nz for details...basically marketing to people with no money to put down as a desposit and no payments till 2016. Prudent lending ? (shakes head ...did we learn nothing from the GFC) I dunno, none of my regular mates I communicate with by PM and e.mail seem concerned about this but I'm still really not so sure about this sort of lending...so just decided to air my concerns on the main forum and see what others think.
Does this sort of lending play out like a bad movie that we've seen before and don't want to see again ? Others would say this time its different....Hmmm

I am interested to see if it is HNZ thinking of transacting with Lendme. While HNZ strategy is to be where the BIG 4 are not, they may sense an opportunity to disrupt.
As Baa pointed out, Lendme seem to be targeting a different portion of borrowers to Harmoney, and the two may some synergies.

[percy]

Old story I heard about a finance company.This guy had so much money coming in from depositors he did not know what to do with it.Millions in the post everyday.All he could lend was a few thousand here and there on a car or two.Then a lovely chap walked in and said he wanted to borrow millions to buy The Whalers Inn in Picton,as he had a new way of valuing a hotel.Mr.Burberry was in heaven,here he could lend millions.!! Yes the Whalers Inn went broke as did Burberry Finance.
Then a few years later Prudential Finance had trouble lending until a group of Indian-South African car dealers committed a huge fraud and took Prudential down.The owner of Prudential,Mr.David Llyall a very honest gentleman.put the business straight into receivership and I believe all creditors and depositors were repaid.
Then South Canterbury started to have too much money coming in,so started to lend to property developers.
Marac seeing South Canterburu,Dominion and Hanover making huge profits from property developers joined the party.
Marac did not understand the property development business so they too lost their shareholders equity.[The Marac motor vehicle,equipment lending remained profitable]
HNZ was born out of Marac recap.Today we see the Australian Banks taking on huge risks with property lending,both in Australia and HN.In NZ they are joined by Kiwi Bank and others..
Heartland thankfully are staying away from taking on the Aussies.
Heartland has a diverse lending book,with no over exposure to any sector.P2P lending and I finance means Heartland are doing what they said they would do;"open new channels to reach customers."
They are testing "the waters".We have all thought/said Heartland should be looking at growing by new channels.Well they are!!!
Each new sector they will be watching carefully,guarding their risk,and ready to expand any area that shows growth.
Holden lending.I would expect Holden are carrying the risk.

[Under Surveillance]

I wonder, percy, whether what you call Prudential Finance was actually Provincial Finance. I think debenture holders got 95 or so in the dollar back from Provincial.

[percy]

I wonder, percy, whether what you call Prudential Finance was actually Provincial Finance. I think debenture holders got 95 or so in the dollar back from Provincial.

Correct.....Provincial Finance it was.
Help me out.Prudential Finance went broke years ago? Martin Coffey got caught carrying the can?????
Now back to "The Who Tommy Live+Encore 1989 Los Angeles." My Sunday night rave up.!!