Christchurch-based mortgage company, NZ Mortgages, has completed its rebrand to Squirrel this week.
Starting out as a one-man band, NZ Mortgages—founded by Nathan Miglani in 2017—has since grown to a team of seventeen, serving the needs of homeowners and builders throughout Canterbury.
The rebrand is the final step in NZ Mortgages’ merger with Squirrel, announced in September 2024. It follows several months of work behind the scenes, integrating processes and systems.
Miglani, speaking in his new role heading up Squirrel South Island, says he is excited to be part of something bigger and better, with the potential to reshape New Zealand’s mortgage industry.
“I’m thrilled to now have the support of a much larger team, enabling me to focus my efforts on Canterbury and growing Squirrel’s presence in the South Island.
“We might be rocking a new name and a new look, but NZ Mortgages clients can still rely on the same advice and expertise they’ve come to know over the past few years—with the benefit of access to Squirrel’s market-leading construction lending solutions and digital technology which makes it far easier for clients to apply for a home loan,” says Miglani.
Squirrel CEO, David Cunningham, says the merger represents an important next step towards the company becoming a nationwide presence, and its near-term goal of writing $1 billion of mortgages annually in the South Island.
“After our expansion into the lower North Island in 2023 [via our merger with The Home Loan Shop] Christchurch was the natural next step for us. We invest heavily in technology and innovation, but we’re also acutely aware that when it comes to guiding clients through the process of buying a property, it’s so important to have access to a local team who have that intimate local market knowledge. Partnering with an established team on the ground in Canterbury meant we could really hit the ground running.
“Nathan has built an exceptional business over the last few years, grounded in many of the same values that make Squirrel what it is. We’re delighted to have him and the rest of the NZ Mortgages team join the fold as we move into this next phase.”
Squirrel has allocated $150m of construction funding specifically for the South Island.
Squirrel Founder, John Bolton, says, “Demand for construction lending in particular has exploded in recent months, experiencing close to 100% growth year-on-year. Squirrel’s unique loan solutions have helped to make us one of the largest non-bank lenders in the sector, and Canterbury has been an important part of that growth. I’m grateful to now have a team on the ground, and excited to see what’s possible from here.”
As a result of the merger, Squirrel has grown to over 120 employees, responsible for originating roughly $3 billion in mortgages each year, or 1 in every 20 new mortgages in New Zealand.
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For more information, please contact media@squirrel.co.nz.