Subscribe today - find out more
Why you should consider BusinessDesk

Hardship levels track up, credit bureau says

Staff reporters
Tue, 08 Jun 2021

Of the 80,000 housing loans that moved to deferral under the Reserve Bank’s covid relief scheme, 3% have applied for hardship.
Of the 80,000 housing loans that moved to deferral under the Reserve Bank’s covid relief scheme, 3% have applied for hardship.
Staff reporters
Tue, 08 Jun 2021
Credit accounts requiring hardship support climbed 5% to 12,520 from April to May, two-thirds of which were related to mortgages and credit cards, latest data from credit bureau Centrix shows.Of the 80,000 housing loans moved to deferral under the Reserve Bank’s covid relief scheme, 3% have applied for hardship, 10% have moved to interest only and 14% have closed their accounts outright, after either selling up or refinancing. The scheme closed on March 31.About 5.6% of telco and utility accounts also remain in arrears, while 4.8% of cred...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

On the Money
On the Money: Richard Chandler charging into 2022, Jane Hrdlicka, Grant Baker, and more
Rebecca Stevenson | Sat, 22 Jan 2022

OTM this week: flying high with Richard Chandler, an ace on ignoring the elephant in the room, a new Robbo-cop comes to town, and more. 

Opinion
Is New Zealand’s population too low?
Brian Gaynor | Sat, 22 Jan 2022

Our relatively small population has proven a huge disadvantage to NZ companies that expand offshore, particularly when they experience headwinds.

Markets Market Close
NZ shares finish shocker week down 3.5%
Dan Brunskill | Fri, 21 Jan 2022

A well-known investor released a paper overnight warning this was the end of a "superbubble" in US markets. 

Sponsored
Grape expectation for first major wine auction

Buying wine at auction can be a smart way to build your cellar or discover a world of wine

Sponsored
How to pick the perfect real estate investment now

Now is a good time to get on the property investment ladder - here is how to get there.