Personal loans jump, mortgage lending drops a third

Personal loans jump, mortgage lending drops a third
More than 14,200 mortgage accounts moved into "past due" territory(Image: Getty)
Staff reporters
New mortgage applications have dipped by a third year-on-year, "buy now, pay later" (BNPL) arrears hit a three-year high of 9.3% and demand for personal loans jumped to a 10-month high as households turn to credit to help fund spending.The latest data from credit-reporting firm Centrix paints a picture of a consumer sector under pressure.BNPL enquiries were also down 27% year-on-year to September, with a similar downturn in retail credit demand and less discretionary spending going through the cash register.Centrix managing director K...

More Retail

Michael Hill buffs up security as robbery costs climb
Retail

Michael Hill buffs up security as robbery costs climb

The jeweller has invested in new smash-proof assault glass and fog cannons.

Gregor Thompson 01 May 2024
Mighty Ape’s profits rise in quarterly update
Retail

Mighty Ape’s profits rise in quarterly update

 This growth came despite gross sales falling 9.2% to $30.4m.

Staff reporters 26 Apr 2024
Website duplication scams haunt NZ retailers
Retail

Website duplication scams haunt NZ retailers

Increasingly sophisticated obfuscation technology is making scams harder to resolve.

Gregor Thompson 22 Apr 2024
Menulog exits NZ
Retail

Menulog exits NZ

Online food delivery platform Menulog will discontinue its New Zealand operations in May.Parent company Just Eat Takeaway confirmed the decision today, saying: “New Zealand represents a small part of the Just Eat Takeaway.com business and its size is insufficient to maintain a he...

Staff reporters 16 Apr 2024