Profile
"West Oak’s success has come from always putting our clients’ best interests first and always finding ways to improve and add more value to them"
Andrew mcquiston,
west oak family office, wellington-altus private wealth
Nathan Miglani likens the current mentality of mortgage advisers in New Zealand to the first lockdown in 2020, which successfully eliminated COVID-19 from the community.
“We’re already trying to predict the problem before it becomes a problem,” says the director and senior mortgage adviser at NZ Mortgages in Christchurch.
“We are all preparing ourselves for the worst and preparing how we should be able to help our clients if the interest rates go to 7 or 8%,” he says.
But the award-winning mortgage broker is optimistic that Christchurch can weather the storm, because the factors affecting the market have been telegraphed so far in advance.
To be sure, the situation is changing quickly, and banks are revising their policies at dizzying speed.
Like other regions around the country, Christchurch rode the wave of easy credit available over the last two years to new heights. This was a welcome change for a city that had missed property booms over the past decade partly due to its long recovery from the 2011 earthquake.
Miglani says a lot of his current clients who entered the market during the pandemic were people who had never bought a property before. Much of that momentum is continuing now, albeit at a less frenetic pace than in 2021.
“It’s going from nuts to normal,” he says.
This is resulting in a very balanced market that allows buyers such as families, who found the boom times somewhat intimidating, more leeway to find a home.
“We're still really busy with people who just couldn't be bothered buying anything over the last few years because the market was madness.”
He says people now have more choice and are negotiating prices. Anybody with cash still has the advantage, but those who need to sell their own homes as a condition of purchase also have better prospects than they did last year.
575 Wairakei Road, Burnside, Christchurch 8053
021 021 20555
nathan.miglani@loanmarket.co.nz
www.linkedin.com/in/nathanmiglani
www.loanmarketparamount.co.nz
Nathan Miglani
Managing Director and Chief Adviser
NZ Mortgages
Read on
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Bio
Milestones
Profile
Milestones
2020–present
Insurance Business Magazine | Key Media
Deputy Principal at Australian Christian College - Southlands
Doctor of Education
2020–present
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2021
Ted Talk in collaboration with key media
Year 7 Community Leader and Leader for Learning Technologies and Platforms at Northern Beaches Christian School
Master of Business Administration, 2017–2019
2021
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2009–2016
2017
2022
2020
2021
Nathan Miglani
Managing Director and Chief Adviser
Loan Market Paramount
Read on
Special Report
Home
Bio
Milestones
Profile
Milestones
Insurance Business Magazine | Key Media
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Ted Talk in collaboration with key media
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Ted Talk in collaboration with key media
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Ted Talk in collaboration with key media
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Ted Talk in collaboration with key media
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2009–2016
2017
2022
2020
2021
Nathan Miglani
Managing Director and Chief Adviser
Loan Market Paramount
Read on
Special Report
Home
Bio
Milestones
2021
2020
2022
2017
2009–2016
2021
Insurance Business Magazine | Key Media
Launched his own business, Ascend Financial Services
2021
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2020
Human Resources Magazine | key media
Joined Vega Lending as mortgage adviser
2020
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2022
Human Resources Magazine | key media
NZ Mortgages named a Top Brokerage by NZ Broker
Nathan Miglani named No. 1 Mortgage Adviser in Australasia in the Loan Market Awards
2022
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2017
Human Resources Magazine | key media
Set up own business under the Loan Market franchise
2017
2009–2011
2009–2016
human resources | key media
Arrived in New Zealand with no experience in financial industry
Joined ANZ Bank and discovered a passion for lending
Left ANZ and honed skills working for another mortgage broker
2009–2016
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Milestones
“For people who are looking to sell their property and buy again, it's probably the best time for them to do something, because previously, if you made an offer subject to the sale [of an existing property], no one would talk to you, because they had 10 other offers that were unconditional.”
The key going forward will be how to help homeowners who come under more pressure due to rising interest rates. Miglani says this dynamic is already occurring, but there are more options for such customers today than there were a few years ago.
“Now, there are so many non-bank lenders in the market, and sometimes their interest rate is lower than the main banks,” he says.
“So, it's all about finding a right solution for the client, and for ourselves to just have more and more options.”
Miglani says having the right attitude towards customers is important, to avoid relationships becoming purely transactional.
“We don’t want to become transactional. We want to become like the old-school bank managers and maintain that relationship with clients all the time.”
NZ Mortgages is also active in commercial loans and development finance, which makes up about 10% of the company’s bottom line.
Miglani sees development finance in Christchurch as one opportunity worth focusing on in 2022.
“There's a massive credit crunch for getting development funding, but we are very proud to have relationships with some strong lenders.”
While the Christchurch property market is doing better than places like Auckland or Wellington, Miglani says the overall direction of the mortgage industry is somewhat rudderless and needs “true leadership”.
There is nothing much the market can do about inflation and tighter credit, but Miglani says playing the hand you are dealt is an important part of the game.
“That's why we're here: to find solutions for our clients – and this is something we really enjoy doing.”
Nathan Miglani likens the current mentality of mortgage advisers in New Zealand to the first lockdown in 2020, which successfully eliminated COVID-19 from the community.
“We’re already trying to predict the problem before it becomes a problem,” says the director and senior mortgage adviser at Loan Market Paramount in Christchurch.
“We are all preparing ourselves for the worst and preparing how we should be able to help our clients if the interest rates go to 7 or 8%,” he says.
But he is optimistic that Christchurch can weather the storm, because the factors affecting the market have been telegraphed so far in advance.
To be sure, the situation is changing quickly, and banks are revising their policies at dizzying speed.
Like other regions around the country, Christchurch rode the wave of easy credit available over the last two years to new heights. This was a welcome change for a city that had missed property booms over the past decade partly due to its long recovery from the 2011 earthquake.
Miglani says a lot of his current clients who entered the market during the pandemic were people who had never bought a property before. Much of that momentum is continuing now, albeit at a less frenetic pace than in 2021.
“It’s going from nuts to normal,” he says.
This is resulting in a very balanced market that allows buyers such as families, who found the boom times somewhat intimidating, more leeway to find a home.
“We're still really busy with people who just couldn't be bothered buying anything over the last few years because the market was madness.”
He says people now have more choice and are negotiating prices. Anybody with cash still has the advantage, but those who need to sell their own homes as a condition of purchase also have better prospects than they did last year.