Homebuyers: the bank is still watching your spending

Frances Cook
Thu, 07 Jul 2022

Homebuyers: the bank is still watching your spending
Mortgage rule changes aren’t a home run for borrowers. (Image: Getty)
Frances Cook
Thu, 07 Jul 2022
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...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets FREE
A2 shares plunge over FDA formula deferral
Staff reporters | Wed, 10 Aug 2022

A2 shares dropped 11% to $5.01 in early morning trading opened but made up a bit of lost ground by the end of the day.

Tourism needs to 'embrace' job-sharing to spur recovery – report
Brent Melville | Wed, 10 Aug 2022

An industry that lost more than a third of its workforce during the pandemic needs to start thinking differently about work sharing.

Primary Sector
A2 Milk gets shot down because of issues in application
Rebecca Howard | Wed, 10 Aug 2022

The FDA continues to work around the clock to address current supply challenges, including reviewing a number of requests from manufacturers for enforcement discretion, as quickly as possible, a spokesperson said. 

A clearer path to the cloud

Step-by-step cloud transition can bring benefits, experts say.

Energy of the future: Why we need innovation

The Tomorrow’s Energy Today conference is looking at ways to develop a clean, affordable and reliable energy future, says Brendan Winitana, chair of the Sustainable Energy Association New Zealand (SEANZ).