The service has been offered to ANZ Bank mortgage customers nationally with the Public Trust providing support services including document witnessing.
The partners say the venture provided "significant savings" for ANZ Bank customers.
But from the experience "the alliance members had developed different perspectives as to the best ways of delivering low cost services to homebuyers." ANZ Bank plans to announce a new home loan offer shortly.
Alexander-Crawford says another reason for ending the venture is that over the past 12 months a number of other services have developed in competition to Key Law. These include online services bundling the full range of property related services such as www.propertystuff.co.nz.
"That takes the customer from,` I want to buy a house,’ through to the other end when they’re wanting to decorate," he says.
Alexander-Crawford says Key Law isn’t accepting any new business and will close on 15 September. He’s moving on to a new project, he says.
