New Zealand Bankers’ Association chief executive Roger Beaumont said the delay probably would not make much difference because the “proposed tweaks” would not change much.
Author: Philip vanDyk
Lending rule tweaks won’t help most consumers
Tweaks to new consumer lending rules released today won’t make much difference for most people seeking credit says the New Zealand Bankers’ Association. Changes to the Credit Contracts and Consumer Finance Act introduced last December had an immediate dampening impact on the availability of consumer credit. “The government’s rushed attempt to fix the problem hasn’t… Read more »
Draft National Adaptation Plan
Ministry for the Environment
‘Always on the lookout’: Anti-money laundering laws have made money transfers to the Pacific ‘unsafe’
“The drive for business is balanced with the need to identify and manage risk, including compliance with the regulatory framework in which they operate, especially AML-CFT legislation. These are commercial decisions for the banks themselves, made on a case-by-case basis,” Beaumont says.
Some NZ homeowners may hit negative equity if house prices drop 15%
“Banks want to keep people in their homes and there are often a range of personal solutions that banks can implement to support their customer’s individual circumstances.”
Nearly half of mortgage holders were ahead of their repayments last year
NZBA chief executive Roger Beaumont said these mortgage holders likely kept their repayments the same while interest rates fell to record lows.
Nearly 50% of home loan customers are ahead on their repayments – NZBA
Roger Beaumont, New Zealand Bankers’ Association chief executive, said about 44% of people with a home loan were ahead on their repayments “likely because as interest rates have declined over the last few years, they may have retained their repayments at the same level.”
A number of borrowers who took out mortgages for the first time last year will struggle if mortgage rates rise as forecast, the Reserve Bank says
According to the New Zealand Bankers’ Association, about 56,000 new home loans were taken out between July and December last year at an average size of $407,000.
New figures from the Bankers Association show many borrowers are ahead on their home loan repayments
“Depending on their loan, others may have increased their repayments further to get ahead and repay their loan more quickly. This shows good financial capability among people with home loans. It also means they’re quite well placed in an environment of rising interest rates.”
NZ Bankers’ Association figures show a significant rise in the latter half of 2021 in the numbers of mortgage holders shifting to interest-only payments
The New Zealand Bankers’ Association has released its latest half-yearly Banking Insights, covering the six months to the end of December 2021, using information collected and aggregated from NZBA’s 10 main retail member banks.
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