Month: August 2021

“It’s up to the banks how they use this exemption. They are not required to provide these services and will be taking into consideration the safety of their workers.”

Bankers’ Association chief executive Roger Beaumont, whose organisation sought the waiver, said banks had to interpret that notice themselves.

Roger Beaumont, chief executive of bank lobby group the New Zealand Bankers’ Association, says there’s no move to bring back a loan repayment deferral scheme at this stage However, he says this could change depending on how the current outbreak unfolds.

“Anyone experiencing financial difficulty because of the current lockdown should contact their bank to discuss how they can help. Banks can offer a range of options for customers facing hardship, depending on their circumstances.”

“The historically low interest rate environment we’ve experienced over the last few years will also have had an impact on borrowers being able to repay their loans faster,” Beaumont said.

New Zealand Bankers’ Association chief executive Roger Beaumont said: “On top of the support measures already announced by the government, we encourage anyone experiencing financial difficulty as a result of the lockdown to contact their bank.

According to Roger Beaumont, chief executive at NZBA, data collected and aggregated from NZBA’s 10 main retail member banks showed that 50% of home loan customers are ahead on their repayments.