Homebuyers: the bank is still watching your spending

Homebuyers: the bank is still watching your spending
Mortgage rule changes aren’t a home run for borrowers. (Image: Getty)
Frances Cook
From today, anyone applying for a mortgage will get a slightly easier time of it. And not a moment too soon. When the Credit Contracts and Consumer Finance Act (CCCFA) came into force in December, it slammed the brakes on a lot of mortgage lending. Some of the hurdles were quite clearly silly. People were denied lending for ordering Uber Eats or getting a café coffee, even when they could afford it. The problem was banks trying to filter what counted as “irresponsible spending” that could see them accused of le...

More Finance

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025
$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025
Michael Lorimer exits Grant Samuel amid more sector change
Finance

Michael Lorimer exits Grant Samuel amid more sector change

Lorimer has sold his 80% stake in the corporate advisory firm.

Duncan Bridgeman 26 Jun 2025