The New Zealand Bankers’ Association has urged prospective borrowers to talk to their bank as the Reserve Bank’s low equity lending restrictions come into force next week. Under the Reserve Bank’s new rules which take effect on October 1, banks must limit new residential mortgage lending with loan-to-value ratios (LVR) over 80% to no more… Read more »
Month: September 2013
Financial planning urged for Kiwis
The Banker’s Association has been encouraging people to make a date with their money during money week.
Agents work on second-tier solutions
New Zealand Bankers Association spokesman Kirk Hope said borrowers being forced into the unsecured lending market was always expected.
Housing to get tougher for first-time buyers
“It says it’s likely banks won’t even lend 10 percent, and it’s more likely to be 5 percent.”
Consumer credit law should be well-targeted and enforced
The New Zealand Bankers’ Association today welcomed the first reading of the Credit Contracts and Financial Services Law Reform Bill, and cautioned further work was needed to meet the Bill’s aims. “Quality regulation is well-targeted and properly enforced. That’s the outcome we’re looking for here,” said New Zealand Bankers’ Association chief executive Kirk Hope. The… Read more »
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