Banks are responsible lenders and take into account a number of factors when making lending decisions. That includes testing affordability at higher interest rates and factoring in realistic essential expenditure.
Financial Markets Authority. (more…)
Lending decisions on any property are made on a case by case basis. It’s quite possible that in time banks would require more equity or shorter term mortgages when considering lending on potentially affected coastal properties.
Inland Revenue Department (more…)
New Zealand banks, as well as their Bankers’ Association, say changes are already under way because of the Financial Advisers Act.
Law and Order Select Committee
New Zealand Bankers’ Association chief executive Karen Scott-Howman said the Reserve Bank had “stress-tested” our banks and found them strong enough to withstand a severe downturn.
Customers were often the victims in such fraud cases, New Zealand Bankers’ Association chief executive Karen Scott-Howman said.
Karen Scott-Howman said banks were constantly responding to customer preferences.
“That’s certainly the case with mobile and internet banking. We’re not seeing that kind of demand for Sharia-compliant banking here.”
Ministry of Business, Innovation and Employment