Jumping the loan shark

Can David Clark rehabilitate his reputation by sorting out this mortgage muddle? (Image: Getty)

Fri, 21 Jan 2022

Changes to consumer credit laws were pitched as being a way to loosen the noose around the necks of the country’s most vulnerable borrowers by running predatory lending out of town.And to be fair to Kris Faafoi, who oversaw the legislative changes, it will largely do just that.However, in a classic case of bureaucratic overreach, it’s also stretched into middle New Zealand’s pockets by hitting prospective home buyers with reams of paperwork and forensic investigations into what takeaways a potential mortgage holder may or may...

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