Month: July 2020

Warning New Zealand’s housing market could face September crunch

“Before making any decisions to extend mortgage deferrals banks will need to assess the customer need. It would also involve discussions with regulators and credit reporting agencies on any impact to responsible lending obligations and how the deferred loans are treated.”

Banking becomes first living wage accredited industry

Banking has become New Zealand’s first fully living wage accredited industry, leading to nearly 1800 employees and contractors moving onto the living wage and gaining greater economic independence for them and their families. As of today, all 17 members of the New Zealand Bankers’ Association, and the association itself, have been fully accredited. “As one… Read more »

Kiwis turn backs on mortgage repayment holidays

“Banks are seeing customers who have deferred or reduced payments restarting their normal payments. That means people know what’s available when it comes to loan relief, and they also know why it’s a good idea to restart payments if they can.”

House prices dip across country in June, with Queenstown leading falls

According to the New Zealand Bankers Association a total of 66,870​ customers with loans totalling $21.3​ billion had reduced their loan repayments since March 26, and a further 55,406​ with combined loans of $19.5b​ had deferred all their loan repayments.

Reserve Bank considering extension of mortgage deferral scheme

Beaumont said before making any decisions to extend mortgage deferrals banks would need to assess the customer need. “It would also involve discussions with regulators and credit reporting agencies on any impact to responsible lending obligations and how the deferred loans are treated.”

Govt’s bank-administered business loans still tiny

The BFGS lending is also dwarfed by other bank lending to businesses since March 26 when the nation went into lockdown to prevent the spread of covid-19. Banks have lent $12.6 billion in new loans to 21,875 businesses between then and June 30. That’s up from $7 billion on May 26.

Kiwibank to chair Bankers’ Association for first time

Kiwibank chief executive Steve Jurkovich has been appointed the new chair of the New Zealand Bankers’ Association. He will be taking over from Westpac CEO David McLean, who chaired the NZBA for three years.