- New Zealand Bankers’ Association chief executive Kirk Hope said people should be aware they may be declined loans because of the new restrictions and advised people to talk to their bank about individual needs and circumstances.
- “While there are positive moves to deal with the supply issue, that will take some time to be resolved. Credit growth, currently at around five per cent, is not driving this,” said New Zealand Bankers’ Association chief executive Kirk Hope.
- One in every two to three first-home buyers could be shut out of the housing market as the Reserve Bank forges ahead with controversial restrictions on home loans. Bankers’ Association chief executive Kirk Hope said the rules would have “perverse consequences” and lock buyers out of the market.
- The Bankers’ Association is seeking to create a database of house insurance contracts to allow mortgage lenders to keep tabs on whether borrowers are keeping their homes adequately insured.
- Hope said there was a risk that in capping the amount of lending done over the 80 per cent threshold it could spark third tier lenders to emerge and lend money on an unsecured basis.
