Squirrel Takes On The South Island

The 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.

Keep an eye out for Squirrel’s outdoor campaign highlighting the local Canterbury team—coming to you in April and May via bus-backs and billboards throughout the Canterbury region.

About Squirrel:

As one of Aotearoa’s largest mortgage brokers, Squirrel helps people purchase over $3 billion worth of property each year and currently hold over $400m in funds under management through its saving and investing platform.

Founded in Auckland in 2008, Squirrel’s footprint now spans the length and breadth of the country, following our expansion into the lower North Island in 2024, and the South Island in 2025. That means we’re helping more Kiwi, all over New Zealand, find the right mortgage solution for them.

Squirrel is also a non-bank lender, offering our own unique home loan and construction and development funding solutions to borrowers who don’t quite fit traditional lending criteria. As of March 2025, we’ve lent over $1 billion to New Zealand homeowners and builders. We’ve also paid over $50 million in interest to our investors.

Squirrel is on a mission to create a fairer financial system in New Zealand, and wake Kiwi up to the possibility of a different and better way of doing things with their money. Through a combination of tailored, expert mortgage advice, and our unique lending and investment platform, we’re offering innovative, real-world solutions to disrupt the long-standing institutions and drive change in this industry.

Squirrel is New Zealand owned and operated.

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