Coffees, takeaways help slash $1.9b off new home loans

Coffees, takeaways help slash $1.9b off new home loans
Think hard how 'non-discretionary spending' will affect your mortgage application. (Image: Getty)
Brent Melville
Financial Advice New Zealand says recent strict consumer finance laws, on top of government housing policy changes, have dramatically undermined new home buyers’ ability to get home loans. Katrina Shanks, chief executive of the financial advisory sector’s mouthpiece, said home seekers are being “significantly disadvantaged” by the new requirements of the Credit Contracts and Consumer Finance Act (CCCFA). The CCCFA, which came into force on Dec 1, puts additional responsibility on lenders to determine affordabil...

More Economy

Business confidence nixes July RBNZ cut
Economy

Business confidence nixes July RBNZ cut

Economists say July is a pause, not the end point.

Rebecca Howard 02 Jul 2025
Monthly CPI tech takes Stats NZ into the future
Economy

Monthly CPI tech takes Stats NZ into the future

Budget funding for new inflation-reporting tech is a giant leap forward, agency says.

Maria Slade 27 Jun 2025
Corporates think NZ 's on the up: Forsyth Barr
Primary Sector

Corporates think NZ 's on the up: Forsyth Barr

The Pulse of NZ Business survey found construction and retail continue to lag.

Gregor Thompson 25 Jun 2025