Appetite for business, mortgage holiday schemes fades

Tue, 14 Apr 2020

Many firms aren't making use of the business finance guarantee scheme once they realise the government's guarantee of 80 percent of the loan is given to the bank, not the borrower, who still has the same obligation to repay.Similarly, individuals interested in taking mortgage holidays are deciding not to take them once they realise interest will continue to accrue.That's according to a survey of bankers by former Bank of New Zealand chief economist Tony Alexander."Many thought the government was going to pay their mortgage for...

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