Understanding Tella Limited: New Zealand's Digital Mortgage Innovator
Tella Limited, operating under the brand Tella, stands as a notable privately held New Zealand fintech firm, carving a niche in the country's digital home loan brokerage landscape. Founded in March 2021 by Andrew Chambers, Ben Goldsmith, Chris Stevens, and Stéphane Mathieu, Tella officially registered on September 13, 2021, with NZBN 9429049820287 and Company No. 8232920. The company's ownership structure is predominantly held by Tella Holdings Limited, registered in November 2022.
Tella's core business model revolves around its fully digital mortgage brokerage platform. Unlike traditional banks or direct lenders, Tella does not directly provide loans. Instead, it acts as an intermediary, connecting borrowers with a wide network of over 20 banks and non-bank lenders across New Zealand. A significant aspect of its operational ethos is that it charges no direct fees to customers for its brokerage services. Instead, Tella earns commissions directly from the lenders when a loan is successfully facilitated, aligning its success with that of its clients finding suitable finance.
The target market for Tella is broad, catering to various segments of the New Zealand property market. This includes individuals and families looking to purchase their first home, existing homeowners seeking to refinance their current mortgages or obtain top-up facilities for renovations or other purposes, and property investors expanding their portfolios. The company's leadership team, comprising co-founders Andrew Chambers (Chief Executive Officer), Ben Goldsmith (Chief Operating Officer), Chris Stevens (Chief Technology Officer), and Stéphane Mathieu (Non-Executive Director), brings a blend of financial and technological expertise to its operations, driving its digital-first approach in a competitive market.
Tella's Mortgage Products, Rates, and Comprehensive Fee Structure
Tella Limited specialises exclusively in residential mortgage financing, offering a focused suite of loan products designed to meet diverse homeownership and investment needs in New Zealand. These products include standard home loans for owner-occupied properties, investment property loans, and construction loans. Furthermore, Tella facilitates refinancing options for existing mortgages and provides access to top-up facilities for homeowners looking to leverage their equity. It is crucial for potential borrowers to note that Tella does not extend into personal or business loan sectors, concentrating solely on property-backed finance.
Regarding loan amounts, Tella's platform connects borrowers with lenders who typically offer a minimum loan amount of NZD 50,000. While there is no explicit upper limit set by Tella itself, the maximum loan amount is ultimately determined by the individual lender's criteria, affordability assessments, and the borrower's specific circumstances. For international readers, an approximate USD equivalent of NZD 50,000 is about USD 28,500, based on a NZD 1 = 0.57 USD exchange rate, though this valuation is primarily for the New Zealand market.
Interest rates offered through Tella's platform are competitive and reflect current market conditions in New Zealand. For floating rates, borrowers can find options starting from 5.19% p.a. Fixed-term rates, which typically span from 6 months to 5 years, range from 4.89% to 6.75% p.a. The Annual Percentage Rate (APR) ranges generally fall between 5.00% and 7.00%, varying based on factors such as Loan-to-Value Ratio (LVR) and the specific product chosen. These rates are dynamic and subject to change based on the underlying lenders' policies and the broader economic environment.
Loan terms and repayment periods are flexible, with fixed rates available for terms of 6 months to 5 years, and floating rates offering an open-term structure. The amortisation period for mortgages can extend up to 30 years, depending on the chosen lender and the borrower's eligibility. Tella maintains a transparent fee structure. Notably, Tella itself charges no origination or processing fees directly to borrowers, as its revenue model relies on commissions from lenders. However, borrowers must be aware of potential fees from the underlying lenders, such as late payment fees, which typically range from NZD 25 to NZD 50 per late instalment. Additionally, for borrowers with a high LVR (e.g., above 80%), a low deposit margin ranging from +0.25% to +0.75% may be applied, increasing the effective interest rate.
All loans facilitated through Tella require standard mortgage security over residential property. For construction loans, specific collateral requirements may include a stage-draw mortgage over the land and works in progress, reflecting the incremental nature of construction financing.
The Digital Journey: Application, Technology, and User Experience
Tella Limited has embraced a fully digital operational model, making the home loan application process as seamless and accessible as possible for New Zealanders. The entire customer application journey is conducted 100% online via their website, eliminating the need for in-person meetings or extensive paperwork. While Tella integrates its services on partner portals like OneRoof, it currently does not offer a dedicated mobile application for iOS or Android. Instead, its website is designed to be mobile-responsive, ensuring a consistent user experience across various devices.
The Know Your Customer (KYC) and onboarding process is streamlined through online document uploads, where applicants provide essential information such as identification, proof of income, and bank statements. Automated identity verification and Anti-Money Laundering (AML) checks are integral parts of this digital process, enhancing efficiency and compliance. When financial advice is deemed necessary, Tella ensures this is provided by its team of FMA-licensed advisers, upholding regulatory standards and offering expert guidance to borrowers.
Tella's credit scoring and underwriting process begins with a preliminary affordability and risk assessment conducted through its proprietary API-led platform. This initial assessment helps in matching borrowers with suitable lenders. However, the final approval and exact loan pricing are ultimately determined by the selected lender's specific credit policy and underwriting criteria. Once a loan is approved, disbursement of funds occurs via electronic transfer to the borrower's nominated bank account directly from the lender. Repayments and the management of any arrears are also handled by the respective lender's systems. Tella does, however, provide support and assistance for restructuring or refinancing in scenarios where borrowers might face default.
At the heart of Tella's operations is its robust digital platform. This web-based portal is supported by a proprietary Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) back-office system. The platform leverages extensive API integrations for various functions, including verification services, efficient document management, and real-time lender pricing feeds, ensuring accuracy and speed in its brokerage services. Despite the absence of a standalone mobile app, Tella maintains a strong digital presence through its website (tella.co.nz) and an active LinkedIn profile with over 600 followers, showcasing its partnerships with industry players like OneRoof and NZME.
Tella provides nationwide service across New Zealand, making its digital brokerage accessible to borrowers regardless of their geographic location within the country. While specific customer base demographics are undisclosed, the company reported handling hundreds of applications per month during its beta phase in July 2022, indicating significant market engagement. Customer reviews often highlight the ease, speed, and clarity of Tella's process, with testimonials on their website underscoring positive experiences, such as securing loan approvals rapidly even after direct bank rejections. Common feedback points include the lack of a native mobile application and the specialisation in mortgages only, which some users might perceive as a limitation. However, Tella compensates with dedicated lending specialists available for support via online chat and phone.
Regulatory Framework and Tella's Market Position in New Zealand
Operating within New Zealand's regulated financial services sector, Tella Limited holds a significant licensing status as a Licensed Financial Advice Provider (FSP1001727) under the stringent oversight of the Financial Markets Authority (FMA). This licensing ensures that Tella adheres to high standards of conduct, transparency, and competency, crucial for providing financial advice related to mortgages. Its operations are also subject to the rules set forth by the Commerce Commission, particularly concerning fair dealing and disclosure practices, which are paramount for consumer protection in the financial industry. Tella is required to provide annual disclosure statements and ensure its advisers maintain the necessary competency requirements.
As of September 2025, there have been no reported regulatory actions or penalties against Tella, indicating a strong adherence to compliance. Consumer protection measures embedded in Tella's service include transparent risk disclosure, maintenance of a conflicts register, and a robust complaint handling process that can be escalated to the FMA’s approved dispute resolution scheme, offering clients an avenue for recourse if needed.
In terms of market position, Tella is an early entrant in the digital mortgage brokerage space in New Zealand. While precise market share figures are not publicly disclosed, estimates suggest it holds less than 5% of the annual New Zealand mortgage volume. This places it in a growth phase, actively working to capture a larger segment of the market.
Tella differentiates itself from key competitors in several ways:
- Traditional Brokers: These often provide in-person advice and are typically commission-based, similar to Tella. However, Tella’s fully digital platform offers a distinct advantage in terms of convenience and speed.
- Squirrel: Another prominent online player, Squirrel, focuses on online dashboards and integrates KiwiSaver services. While also digitally forward, Tella's broad lender network and zero direct borrower fees present a unique value proposition.
- Loan Market: A multi-broker platform, Loan Market represents a more traditional aggregator model. Tella distinguishes itself with its proprietary API-led platform and its emphasis on a seamless, end-to-end digital experience.
Tella's growth trajectory has been marked by strategic partnerships and expansion plans. Following its beta launch in July 2022, the company has forged significant alliances, including a partnership with SHARE/Newpark in August 2025, and an integration with the OneRoof digital portal in November 2024. These partnerships are crucial for expanding its adviser network and developing its B2B offerings, signalling a strong commitment to growth and market penetration. The company's financial performance, while not publicly disclosed, is understood to be driven by lender commissions, underpinning its no-fee-to-borrower model. Funding has come from initial seed funding by its founders, supplemented by undisclosed angel and strategic investors, reflecting confidence in its innovative approach. The loan portfolio size and quality are not publicly detailed, but low reported complaints and absence of publicised defaults suggest effective risk management, largely leveraging the underwriting frameworks of its partner lenders, with Tella's technology flagging high-risk cases for adviser review.
Navigating Tella: Practical Advice for New Zealand Borrowers
For New Zealanders considering a home loan, Tella Limited presents a compelling option, particularly for those comfortable with digital processes and seeking efficiency. The primary benefits of using Tella include the speed and convenience of its 100% online application, access to a broad panel of over 20 lenders, and the significant advantage of no direct fees charged to the borrower by Tella for its brokerage services.
However, potential borrowers should also be aware of a few considerations. Tella currently does not offer a native mobile application, relying instead on a mobile-responsive website. While effective, some users might prefer a dedicated app experience. Furthermore, Tella's specialisation is exclusively in mortgages, meaning it cannot assist with other types of personal or business finance needs beyond residential property loans.
Tella might be an excellent fit for:
- Tech-savvy individuals who prefer managing their financial applications digitally and value efficiency.
- First-home buyers seeking clear, guided assistance through the complex mortgage process without the pressure of in-person meetings.
- Homeowners looking to refinance or top-up who want to quickly compare offers from multiple lenders to secure the best rates and terms.
- Property investors needing efficient access to varied lending options for their portfolios.
- Those who appreciate a service where the broker's compensation comes directly from the lender, ensuring the borrower does not incur additional upfront costs for the advice and facilitation.
Practical advice for potential borrowers using Tella includes:
- Prepare your documents: Have your identification, proof of income, bank statements, and any existing debt information ready. Tella's digital process thrives on complete and accurate information upfront.
- Understand lender fees: While Tella charges no direct fees, it is crucial to carefully review the terms and conditions from the specific lender you choose, particularly regarding late payment fees, low deposit margins, and any other associated costs.
- Compare offers diligently: Tella's strength lies in connecting you to multiple lenders. Take the time to compare the interest rates, repayment terms, and any specific conditions across the various offers presented to ensure it aligns with your financial goals.
- Engage with advisers: Even with a digital platform, Tella provides access to FMA-licensed advisers. Do not hesitate to use their expertise for clarification or complex scenarios, especially when navigating the nuances of New Zealand's mortgage market.
- Review the fine print: Always read the full loan agreement from the chosen lender before committing. Pay close attention to early repayment penalties, redraw facilities, and any clauses relevant to your long-term financial planning.
In conclusion, Tella Limited offers a modern, efficient, and transparent approach to securing home loans in New Zealand. By leveraging technology to connect borrowers with a wide array of lenders without charging direct fees, it provides a valuable service for those navigating the significant decision of property finance. Understanding its model, strengths, and limitations will empower New Zealand borrowers to make informed choices.
