Behind the advice: a Q&A with Colab’s Sam Ludbrook

At Colab, we combine expert advice with a human approach. Because buying a home is personal, your mortgage advice should be too.

Colab founder and Managing Director Sam has been on both sides of the process. From buying his first investment property in Auckland with help from his dad, to navigating tight spaces, tough markets, and property development abroad, he knows just how stressful (and rewarding) the journey can be.

We asked him a few questions to help you get to know the person behind the advice — starting with how he takes his coffee.

First things first, how do you start your day? Coffee order?

These days I’m usually up before 6am. Kids will do that to you! I like to start the day with a workout. I used to hate mornings, but now I hit my local community gym for classes like RPM, BodyPump, and BodyBalance. It keeps me focused and in a good mood.

Coffee-wise, you can’t beat a classic flat white. I invested in a good machine at home a few years back and haven’t looked back!

Let’s talk mortgages. What you love most about helping people through the process?

There’s nothing quite like helping someone buy their first home. I still remember the mix of nerves and excitement when I bought mine in my early twenties. It’s a huge milestone, and being able to guide people through that process, take the pressure off, and celebrate with them when their offer is accepted and their finance is approved, that’s incredibly rewarding.

For me, it’s all about helping. Whether it’s a first home buyer or a property developer trying to get a project off the ground, I genuinely enjoy using my experience to make things easier. I’m also really passionate about architecture and new builds, so I get a real buzz from seeing plans take shape and helping bring a vision to life.

What type of property lending are you most passionate about, and why?

I’ve been in the banking world a long time. After a big OE, I came back to NZ around 14 years ago and landed my first banking role here with Westpac. I’ve always been a people person, and I’ve naturally gravitated toward architecture and new builds.

Over time I’ve built strong relationships in that space, whether it’s with residential builders or developers, and I love being part of the journey when someone’s building a new home. I’m happy helping clients buy existing homes too, but my sweet spot is guiding them through the build process or helping developers get their funding sorted.

Tell us about your property journey

Like a lot of Kiwis, I took off on my OE in my early twenties and ended up landing some contracting roles in the investment banking world. That turned into longer-term stints with a few big banks. Back then, the exchange rate was around 3.5 NZD to the British pound, so I managed to pay off my student loan, stash away a bit of savings, and send some money home.

With my dad going guarantor, I bought my first investment property in Auckland. A few years later, I decided the UK was home for the foreseeable future, so I sold the NZ place and used the proceeds to buy a little two-bedroom house in East London. At the time it felt like a huge leap. Looking back now, I wish I’d bought six more. Property hindsight is a wonderful thing!

The mistake I made then was not thinking ahead. Within a year or so, two kids came along and suddenly that cosy little house felt way too tight. We had to upsize, which came with all the usual costs like estate agent fees, stamp duty, and reno work. It was a lot to juggle with young kids. Thankfully, we made a decent return on that place and used it to fund our move back to NZ.

After six months of house-hunting back here, we finally found a place. The market was pretty tough at the time and the house needed a bit of work, but we’ve really grown to love it and have no plans to move again anytime soon. We feel incredibly lucky to have landed in our little pocket of Auckland, Howick, with its great cafes, bars, beaches, cinema, and arts centre. The extra space we have here compared to the UK feels like a real luxury, and it's something we don’t take for granted.

More recently, I’ve dabbled in property development. Small subdivisions and townhouse projects with a good mate of mine who shares similar values. It’s been a great learning experience, but not without its challenges. Development isn’t for the faint-hearted. You need solid capital behind you and the patience to ride out downturns. Land prices can drop fast, which is why banks keep those LVRs tight. I've seen it happen firsthand in banking. If you're overextended, things can unravel quickly.

What’s something simple people can do to improve their chances of getting approved?

Banks want to see that you can manage the repayments. If you’re living rent-free, a great tip is to start saving the amount you’d expect to pay on your mortgage. It shows the bank you’re serious and ready, and it gives you confidence too. No need to live off two-minute noodles once you move in!

What’s one piece of advice you wish more people knew?

People often think all banks are pretty much the same, but they’re not. Every lender has different rules around things like income, deposit size, and property types. What works for one person might not work for someone else. That’s where a mortgage adviser can really help. We know how to match you with the right bank and can often get you a sharper rate than if you went direct.

The great thing is, there’s usually no cost to you. We’re paid by the lender, which means you get professional advice without the extra bill!

What’s one misconception about mortgage advisers?

That we’re a dry bunch! Most advisers I know are really social and love getting out and about. We’re not stuck behind spreadsheets all day. Building relationships is a big part of what we do.

What would you be doing if you weren’t a mortgage adviser?

Definitely something creative. I’ve always been into photography, music, and anything hands-on. I’ve often thought about learning woodwork and making bespoke furniture. I love the idea of building something from scratch. A lot of people say they wouldn’t know what to do if they retired, but I’ve got a list a mile long!

Hidden talent or weekend passion?

I recently got an e-bike and absolutely love it. My suburb is pretty hilly, so it makes riding around much easier, and way more fun. I’ve also picked up golf again after a long break. The game is still very much a work in progress, but I love getting out early once a week for 9 holes and a bit of banter with mates.