Stuff
Banks promise Covid-19 mortgage holidays won’t reduce credit scores
09/04/2020
“Given the extraordinary circumstances it seems fair that individual credit ratings are not affected by a pandemic-related mortgage deferral.”
Read Article
Mortgage deferrals will not affect customer credit ratings
08/04/2020
Anyone who has deferred their mortgage repayments for up to six months because they are financially impacted by Covid-19 will not have their credit rating affected as a result of the deferral, provided they were not in arrears before the pandemic. Banks have agreed this initiative with credit reporting agencies. New Zealand Bankers’ Association chief...
Read Article
NZ Herald
Coronavirus Covid-19: Fitch downgrades bank ratings on tough economic conditions
08/04/2020
“The latest ratings reflect what’s happening in the environment in which banks are operating rather than the banks themselves,” said New Zealand Bankers’ Association chief executive Roger Beaumont.
Read Article
Stuff
Banks told: Don’t charge interest on mortgage holidays
01/04/2020
“Last week we announced that New Zealand’s retail banks are offering mortgage repayment deferrals. That represents immediate financial relief for many customers. Banks do not profit from this. In fact, they cover the cost of providing that credit for the period of the deferred payments.”
Read Article
$6.25 billion in new lending available to Covid-19 affected businesses
01/04/2020
New Zealand’s banks are offering up to a total of $6.25 billion in guaranteed loans to businesses financially impacted by Covid-19. Eligible businesses can apply to their bank for new lending under the scheme from today. “Businesses are at the heart of our economy and we know many are doing it tough as a result...
Read Article
NZ Herald
Nine banks to start lending govt-backed $6.25b for business immediately
31/03/2020
“Banks will follow their normal credit assessment processes to see if businesses qualify for the scheme and will take into account the circumstances businesses find themselves in due to covid-19.”
Read Article
Interest.co.nz
More detail unveiled on which businesses are be eligible for an 80% taxpayer-backed bank loan to get them through the COVID-19 crisis
31/03/2020
New Zealand Bankers’ Association CEO Roger Beaumont said banks’ credit assessments typically take 10 working days.
Read Article
Stuff
Applications open for $6.25 billion of loans to struggling businesses
31/03/2020
“Businesses are at the heart of our economy and we know many are doing it tough as a result of Covid-19,” said Beaumont.
Read Article
NZ Herald
Covid 19 coronavirus: Banks report 10,000 plus Kiwis seeking six month home-loan holiday
29/03/2020
Roger Beaumont, New Zealand Bankers’ Association chief executive, last week urged people to go online for information first after bank call centres were jammed with people calling through only to find long wait times.
Read Article
Good Returns
Banks roll out mortgage holidays
29/03/2020
Roger Beaumont, chief executive of the New Zealand Bankers’ Association, said: “While there are obvious advantages for people in need, repayment deferrals may extend the time it takes to repay the loan and will add interest cost
Read Article
