First Mortgage Trust

Office address: 15 First Avenue, Tauranga 3110 
Website: www.fmt.co.nz 
Year established: 1996 
Company type: financial services 
Employees: 40+ 
Expertise: equity release and interest only mortgage, non-bank lending, residential loans, development loans, construction loans, commercial loans, industrial loans, bridging finance, mortgage trust 
Parent company: CapitalGroup 
Key people: Paul Bendall (CEO), Andrew Western (CFO), Sam Burgess (head of lending), Jayne Hunt (head of marketing and PR), Geoff Newland (head of credit), Matt Tucker (CTO), Sharon Weymouth (head of people and culture) 
Financing status: N/A 

First Mortgage Trust is a non-bank lender headquartered in Tauranga managing over $1.65 billion in funds. With offices in Auckland, Tauranga, Wellington, and Christchurch, they provide consistent returns to over 6,500 investors. The company employs more than 40 staff members, offering personalised and flexible lending and investment solutions. 

History of First Mortgage Trust 

First Mortgage Trust was established in 1996 by three Tauranga-based law firms: Sharp Tudhope, Holland Beckett Law, and Cooney Lees Morgan. Initially, it was a solution to manage increasing regulatory burdens on nominee companies operated by law firms. Later, Edmonds Judd from Te Awamutu and Edmonds Marshall from Matamata joined the trust.  

Over the years, the Trust saw significant growth, providing consistent returns and strengthening its lending platform. In early 2019, the Trust’s management company was acquired by CapitalGroup, an Auckland-based private equity firm, marking a new phase of growth. Along with several key hires, First Mortgage Trust appointed its CEO in 2021. 

Products and Services of First Mortgage Trust 

First Mortgage Trust offers a range of mortgage products designed to meet various borrowing needs. Key offerings include: 

• residential loans: flexible loans for residential property purchases or refinancing 

• development/construction loans: funding solutions for property development and construction projects 

• commercial/industrial loans: loans for commercial and industrial property investments 

• bridging finance: short-term financing to bridge the gap between transactions 

• equity release: financial products that allow homeowners to access the equity in their property 

• mortgage trust: investment products that provide stable returns through a diversified portfolio of mortgage-backed loans 

Culture at First Mortgage Trust 

First Mortgage Trust states that being part of their team means people are valued and supported. The company prides itself on a bold employee value proposition (EVP), focusing on job satisfaction and professional development. Here are some of the perks and benefits offered: 

• flexible work options, including remote work 

• health insurance coverage 

• professional development and career growth opportunities 

• training provided on the job 

• standard 37.5-hour workweek 

• day off on your birthday 

• volunteer day for community service 

• culture committee organising events and wellness activities 

First Mortgage Trust engages in various community initiatives, reflecting their commitment to Corporate Social Responsibility. They partner with local organisations and charities, reinforcing their dedication to making a difference. Key initiatives include: 

• FMT Annual Youth Sponsorship Grant: supporting youth development through annual grants 

• Skydive 95 fundraiser for ambulance: fundraising initiative for emergency services 

• Save the Kiwi: contributing to the conservation of New Zealand’s native kiwi bird 

• MMC Cricket Program Sponsorship: supporting local cricket program 

• GoGenerosity: partnering to facilitate community generosity initiatives 

• support for Coastguard Tauranga: assisting local maritime rescue services 

The company’s purpose revolves around securing the future of New Zealanders and helping them achieve property investment goals, offering stable returns to investors. The company values building long-term relationships based on trust and contributing to community development. These values include: 

• teamwork: caring, connecting, and collaborating while valuing differences 

• integrity: acting responsibly, honestly, and with sound judgement 

• achievement: being open-minded, empowered, and recognising successes 

About First Mortgage Trust CEO Paul Bendall and Key People 

Paul Bendall has served as the CEO of First Mortgage Trust since 2021. His work history includes roles as a general manager at First Mortgage Trust and a director for property mezzanine finance at BNZ. Bendall's extensive expertise in real estate, customer service, investment, development, and leadership drive the company forward. 

The key people who support Bendall in leading the company are a team of seasoned professionals, including: 

• Andrew Western, serving as CFO, oversees the company’s financial management and strategic planning 

• Sam Burgess, as head of lending, manages and develops the lending portfolio 

• Jayne Hunt, head of marketing and PR, leads the company’s marketing strategies and public relations efforts 

• Geoff Newland, as head of credit, ensures robust credit assessment and risk management practices 

• Matt Tucker, as chief technology officer, directs the company’s technological advancements and IT infrastructure 

• Sharon Weymouth, as head of people and culture, focuses on employee engagement and organisational culture 

The Future at First Mortgage Trust 

First Mortgage Trust is actively expanding its community engagement and strengthening its leadership team. In 2023, they announced the recipient of their FMT Youth Sponsorship Award, an annual initiative, demonstrating a commitment to support future generations. This initiative highlights the company's dedication to social responsibility, which helps build stronger community ties and investor trust. 

Their recent appointment of a new CFO signifies a strategic move to optimise financial management and support growth. This leadership change secures strong financial oversight, which is important for navigating future challenges and opportunities. With these initiatives and strategic leadership appointments, First Mortgage Trust is well-positioned for sustained growth and continued success in the country's mortgage industry.