Luigi Wewege founder of Vivier Group interviewed by Mario Schulzke founder of IdeaMensch on being an entrepreneur

ORLANDO, FLORIDA – 13 April 2015

FOR IMMEDIATE RELEASE

Luigi Wewege is the founder of Vivier Group and CEO of its Auckland based financial services arm Vivier & Co. Luigi explains to IdeaMensch how the idea for the company came about and discusses certain things learnt along the way.

Firstly where did the idea for Vivier Group come from?

The Global Credit Crunch had relatively little effect on the New Zealand banking sector. In part, this fortunate stability was a result of the health of the country’s financial market and lending sector, which always faced much sterner regulation and control than many other countries during the boom years between 2002 and 2007. 

For such reasons, since the 1990s, New Zealand has been the destination of choice for global investors, who have been well rewarded for their faith. Particularly, those from countries such as Japan and China, who flocked to place their household savings in New Zealand, have since received interest rates well above their domestic offerings.

It became apparent to me in late 2013 that many global investors wanted to enjoy the attractive rates offered from New Zealand, without exposing themselves to exchange rate risk and thus the idea for Vivier Group was born.

What does your typical day look like and how do you make it productive?

It always starts with a coffee due to being predominantly a night owl. I am at my most productive when it’s quiet and I can work without interruptions and distractions. To allow the latter to occur I during the day, endeavour to check in with international staff members as they come online via their respective time zones and go over any pressing issues they may have.

How do you bring ideas to life?

Business plans, costing sheets, financial forecasts, etc… etc… people can spend an exceptional amount of time theorizing their ideas further but for me if the idea does not come close to certain indicators from the get go then they are not worth pursuing. Although when they do it’s all about creating a clear strategy and bringing in the right team members in order to execute.

What’s one trend that really excites you?

For me it has to be the onset of digital banking firms and I find it fascinating how it’s forced larger retails banks to increase their pace of digital adoption. As established banks cannot stop client attrition to agile start-ups and niche players, these banks are now beginning to think more like disruptors, obsessing about consumer experience and using digital technology to avoid being totally outflanked by new entrants or established competitors.

This interview first appeared on IdeaMensch.com and you may find the remainder of the interview here: https://ideamensch.com/luigi-wewege

About Mario Schulzke:

Mario Schulzke is the founder of IdeaMensch, a community he started to help people bring their ideas to life. He is the AVP of Marketing at his alma mater the University of Montana where he also teaches in the business school. Before, Mario spent 10 years managing digital strategy teams at ad agencies up and down the West Coast.

About IdeaMensch:

IdeaMensch is a community supported resource for entrepreneurs from across the world. Our mission is to help entrepreneurs bring their ideas to life, and a big part of that is by having entrepreneurs share their stories with us via our interviews.

About Luigi Wewege:

Luigi Wewege is the founder of Vivier Group and the Managing Director of Vivier Mortgages (a Dublin, Ireland based home loan company), as well as CEO of its Auckland based financial services arm, Vivier & Co, a boutique Financial Service Provider in New Zealand, offering no-cost, above average returns for investors.

About Vivier Group:

Vivier Group is the global umbrella organisation of the Auckland based Vivier & Co and Vivier Investments, the London based Vivier Developments & Vivier Home Loans, and the Dublin based Vivier Mortgages.

For more information please contact:

Name: Vivier Group
Contact: Media Relations Manager
Email: press@viviergroup.com
Phone: +64 9 889 3998
Website: http://www.viviergroup.com

Luigi Wewege, Managing Director of Vivier Mortgages gives his opinion on Ireland’s current housing market

DUBLIN, IRELAND – 25 February 2015

FOR IMMEDIATE RELEASE

Curbing price volatility in the housing market is an ongoing challenge for governments.  Clearly, in order to stabilise house prices, supply and demand must be brought into equilibrium. The difficulties inherent in achieving this goal are illustrated by Ireland’s economic travails over the past decade. 

During the heady days of the ‘Celtic Tiger’, property developers embarked on a building frenzy, their expansionary drive fuelled by three factors: the availability of almost limitless credit, the flow of cheap labour from Eastern Europe and an apparently buoyant property market. However, too many of these building schemes were not brought to fruition. The onset of the recession and the accompanying credit crunch which it triggered forced many developers to abandon their projects. The landscape of Ireland is now littered with ‘ghost estates’, abandoned, unoccupied or unfinished. They have been declared economically unviable and have consequently been flagged for demolition. Compounding the difficulties in the housing sector, the lax mortgage credit criteria have also led to a cascade of defaults amongst existing mortgage holders, thus creating an unprecedented wave of house repossessions.

A priority of paramount importance for governments in shaping social policy these days is, undeniably, the provision of quality housing for its citizens.  One legacy of the 2008 financial crisis, however, is an acute shortage of housing.  As a supply shortage inevitably drives an upward spiral in prices, this is reflected in the housing market. During 2014, house price inflation across Ireland has vacillated between 8% and 20%.  Galloping ahead of the rest of the country, house prices in Dublin increased by 20%, whilst nationally the rate averaged out at 13% to 14%.  These increases in prices show marked variations from county to county.  In the last quarter of 2014, the year-on-year changes recorded per county were: Donegal 0.1%; Cavan 1.5%; Monaghan 5.2%; Louth 11.4%; Longford 12.2%; Roscommon 9.7%; Wicklow 18.8%: Cork City 12.2%; Limerick City 2.8%; Dublin City Centre 27.1%; South County Dublin 17.9% and North County Dublin 15.9%.

According to analysts, the five factors impacting on house prices are credit, expectation, income, supply and demographics.  Of these variables, changes in credit and expectation are most likely to induce changes in house prices. Harnessing this recognition, the Central Bank has established new regulations that place quantitative ceilings on the proportion of mortgages at high loan-to-value ratio and on the proportion of mortgage lending at high loan-to-income ratio. According to the Central Bank, this change in macro-prudential policy in the real estate sector will have a dual effect: increasing the resilience of the banking and household sectors to financial shocks, and dampening the pro-cyclical dynamics between property lending and housing prices. 

In practical terms, the new regulations mean that first-time residential buyers can borrow as much as 80% of the property price or even 90%, up to a limit of €220,000, plus 80% of any amount beyond it.  The scope of these caps also extends to housing loans secured on residential property in the state, as well as to equity-release/top-up mortgages.  What it does not cover is the refinancing of a house loan or loans that have been negotiated for the purpose of addressing arrears of payments.

Although the regulations have been welcomed by property analysts, there has been a current of dissent. Opponents of the restrictions, whilst conceding that they may have the desired effect of moderating house inflation, argue that the measures may also foster a concomitant escalation of rental prices.  They predict that a rising demand curve for rented accommodation will have the inevitable consequence of luring speculators into the market thereby destabilising house prices and posing a threat to first-time buyers.

About the Author

Luigi Wewege is the founder of Vivier Group and the Managing Director of Vivier Mortgages (a Dublin, Ireland based home loan company), as well as CEO of its Auckland based financial services arm, Vivier & Co, a boutique Financial Service Provider in New Zealand, offering no-cost, above average returns for investors.

Vivier Mortgages

Vivier Mortgages is a Dublin, Ireland based home loan company that has specialised in secured property lending, principally for domestic mortgages and building projects, for nearly twenty years.  The company,   having recently become part of Vivier Group, is currently looking for new opportunities in Ireland, in the areas of property acquisition, redevelopment and regeneration.

Vivier Group

Vivier Group is the global umbrella organisation of the Auckland based Vivier & Co and Vivier Investments, the London based Vivier Developments & Vivier Home Loans, and the Dublin based Vivier Mortgages.

Media Contact

Company Name: Vivier Mortgages
Contact Person: Media Relations Manager
Email: press@viviergroup.com
Phone: +353 1 697 1353
Country: Ireland
Website: http://www.viviermortgages.com