Heartland considering impact of RBNZ rules on reverse mortgages

Heartland considering impact of RBNZ rules on reverse mortgages
Heartland Bank CEO Leane Lazarus. (Image: Supplied)
Jenny Ruth
Heartland isn’t likely to be happy with the Reserve Bank of New Zealand's rules relating to reverse mortgages and the capital required to back them.But the Reserve Bank of NZ (RBNZ) appears loath to change the current rules, which have been in place since 2015 – pre-2015, reverse mortgages were treated the same as standard mortgages for the purpose of calculating bank capital.Heartland is by far the nation’s largest provider of reverse mortgages, although SBS Bank does offer them too.Such loans allow retired people to acce...

More Finance

No longer 'boutique' Generate is executing, CEO says
Finance

No longer 'boutique' Generate is executing, CEO says

The fund manager is now the seventh-largest KiwiSaver provider.

ANZ half-year profit surges on non-cash gains
Finance

ANZ half-year profit surges on non-cash gains

Cash earnings were flat, and net interest margin rose slightly.

Pattrick Smellie 08 May 2025
BNZ preserves margins on flat half-year
Finance

BNZ preserves margins on flat half-year

BNZ outranks its Australian cousins for customer preference.

Pattrick Smellie 07 May 2025
Westpac's NZ net interest margin expands again
Finance

Westpac's NZ net interest margin expands again

Net interest margins rose in NZ, but shrank for the group as a whole.

Pattrick Smellie 05 May 2025