Specialist lending heats up as non-banks eye Wellington growth
First Mortgage Trust (FMT) has expanded its national lending team, naming Haidee Jo (pictured) as business development manager for the Wellington region. The move signals the non-bank lender's intent to deepen its presence in the capital as its loan book continues on an upward trajectory.
Jo arrives from Bank of New Zealand, where she most recently served as associate director within the corporate and institutional banking – property finance division. Her background spans both commercial and corporate lending, with a track record in deal structuring and stakeholder management.
Relationship banking at the core
For Phil Bennett, FMT's head of lending, the hire is as much about people skills as technical expertise.
"Haidee brings strong property finance experience and, just as importantly, she knows how to build lasting relationships,” Bennett said. “As FMT celebrates 30 years in business this year and our loan book continues to grow, it's important we have people who understand what borrowers need and can work with them to achieve practical, well-structured outcomes. We're really pleased to have her join the team."
In her new role, Jo will engage directly with borrowers, mortgage advisers and professional referral partners to expand FMT's reach across the region.
A move beyond main-bank finance
For Jo, the attraction lay partly in the breadth of the specialist lending market. "Joining FMT is an exciting opportunity to broaden my experience beyond main bank property finance and be part of a business with a strong reputation in the specialist lending market. I'm looking forward to building relationships across the Wellington region, supporting clients and advisers with practical lending solutions, and contributing to FMT's continued growth."
30 years and $2 billion in funds
That growth story has been building for three decades. Founded in 1996, FMT manages more than $2 billion in funds and provides first-mortgage secured lending across commercial, industrial, residential and rural property.
The Wellington focus is timely. CBRE's New Zealand Real Estate Market Outlook 2026 forecasts Wellington CBD Prime office stock will grow by 14% over 2026–27, as a wave of refurbishments and new builds comes to market — pointing to increased transactional activity for specialist lenders.
The appointment aligns with FMT's broader strategy of offering flexible, common-sense credit solutions to borrowers who may not fit standard bank criteria — a segment that has attracted growing adviser interest in the current lending environment.
Stay informed with the latest housing market trends and mortgage insights — subscribe to our free daily newsletter.
