- New Zealand Bankers’ Association chief executive Roger Beaumont says in the current climate it is not surprising to see mortgagee sales starting to rise. But mortgagee sales are a “last resort”, he says. They are also rare, and represent a tiny fraction of the around 1.25 million home loans there are in New Zealand.
- The NZ Bankers’ Association submitted that the crown research institute model made it extremely difficult for businesses to access and use this data.
- NZ Bankers’ Association chief executive Roger Beaumont said it was important for customers to speak to their bank as early as possible if they were “doing it tough”.
- “If you’re considering borrowing from your bank, it’s always worth having a chat with them to find out what they’ll be looking for and what you can do to help get your application over the line.
- He said these cases were often very sensitive and complicated by the bank’s customer obligations to both domestic partners who may have joint accounts, home loans or credit cards. “Joint products usually need the consent of both customers to make any changes. Issues can arise when one party refuses consent.”
- “Banks play a part in helping to identify instances of economic harm. They train staff to recognise signs of potential economic harm while being sensitive to customers’ situations and wishes.”
- “The hubs trial is designed for small communities that no longer support bank branches due to lack of customer demand, or never had them. Stratford still has a bank branch. Locals who prefer face to face banking may wish to consider switching to that bank. Switching is easy and quick, with the new bank taking... Read more »
- “Our research shows that around two-thirds of New Zealanders think sharing your banking information with third parties to access other financial services is either a bad idea or they don’t understand it,” CEO Roger Beaumont said.
- Introduction of the tool has also been opposed by banks, with bank lobby group the New Zealand Bankers’ Association maintaining “there’s a real risk of adverse customer impact” if the RBNZ introduces a DTI tool.
- Bankers’ Association Chief Executive Roger Beaumont says their research indicates about two-thirds of Kiwis are opposed to the concept of open banking, or don’t understand it. He says that means there’s an obligation on the Government, who are setting this up, to educate people on what it means.
