We’re proud to support Indi (The Independent Mortgage Company), a new Kiwi fintech startup with a mission to help more New Zealanders access fairer floating rates and save money on their home loans.
Indi’s residential floating mortgages, which are currently predominantly funded by our Generate KiwiSaver Scheme, offer rates well below the major banks: 5.19% compared to the average major bank rate of 6.46%. Its direct, online mortgages save money, because there are none of the big bank overheads to pay and they can operate more nimbly.
“We have committed up to NZ$20 million to this investment,” says Generate portfolio manager Ayrton Oliver. “The investment offers an attractive risk/return profile, investing in high-quality prime mortgages to New Zealand borrowers. Its floating rate return compliments the other fixed interest assets in our funds.”
“The investment has the added benefit of enabling Indi to offer an innovative and competitive new product that should benefit Kiwi home buyers,” he says.
We're making a difference
At Generate, we believe in backing innovative ideas that don’t just deliver returns, but make a real difference for Kiwis. Indi’s fresh approach to home lending aligns with our commitment to doing what’s right for our members and where possible, the wider community.
Just like Generate, Indi is a New Zealand-owned company, founded by Kiwis. We’re excited about the future for Kiwi home buyers with this new player in the home mortgage space.