GJ Gardner launches own finance company

Porteous said Onion would only lend to G.J. Gardner clients initially and might eventually move into insurance. "Onion's key purpose is to make buying or building a new home easy by providing skilled specialists in finance and insurance with extensive knowledge of the housing market and home building sector," he said.

The lending issue created obstacles for many, he said, and Onion could also provide funds for buyers of existing houses which new house-builders needed to quit before they could start their construction project.

Onion was sourcing its funds from banks including ASB and Westpac.