Leaky home fix may be unaffordable for some

NZPA

10.03.2011

In a submission to the local government and environment committee, the New Zealand Bankers' Association raised concerns about the loan guarantee, saying the term was misleading.

"People would normally think of a guarantee as standing in the shoes of the borrower. What is actually on the table is not that, it's more in the nature of a loss-sharing agreement," chief executive Sarah Mehrtens said.

"We don't want there to be any confusion in the market about what is being offered because clearly we can't step outside our normal lending criteria."