Bankers Association chief executive Kirk Hope said cheap foreign funds and intense competition are behind the mortgage war. Listen to full interview
The New Zealand Bankers’ Association (NZBA) says the Government’s Responsible Lending Code should not require lenders to make oral disclosures to their borrowing customers, nor “dictate” how they communicate with borrowers.
Ministry of Justice
Ministry of Business, Innovation and Employment
New Zealand Bankers’ Association chief executive Kirk Hope said the allegations were “surprising”. “The customer’s ability to service the loan is a key factor in any lending decision. It’s important that people are up front to the bank about their circumstances and their ability to repay the loan.” He said defaults on bank loans were “low” because of the prudent approach that banks took.
Ministry of Business, Innovation and Employment