Lending predictions for 2021
Interest rates will remain at historic lows for the next two years and banks will become more receptive to new customers this year, predicts economist Tony Alexander.
ANZ predicts fewer OCR cuts
ANZ has revised its forecast for the official cash rate, predicting only one cut next year to 0.1%.
Little hope on turnaround times
Mortgage advisers predict there will be little progress made on turnaround times this year, as processing times continue to deteriorate across the industry.
Record mortgage lending in November
Mortgage lending jumped to $9.2 billion in November – $1.5 billion more than the previous record monthly total – according to new Reserve Bank data.
Lowest-ever big bank rate from Westpac
Westpac has launched the lowest ever big four bank rate, unveiling a new one-year mortgage at 2.29%.
Access to capital is key to rebooting our small business economy
If 2020 has made one thing clear, it is that New Zealand’s economy depends on small business.
Is the housing market cooling off?
A new survey of mortgage advisers shows "solid evidence of things cooling off" in the housing market, with the impact of LVR changes and pressure on landlords ramping up.
More stories
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Big banks say no to 40% investor deposits
The other three big banks will not follow ANZ in making investors raise a 40% deposit for a home loan, following the lender's controversial decision.
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How will 40% deposit requirements affect the market?
The 40% deposit requirements imposed by ANZ Bank – and possibly the RBNZ next year – are unlikely to slow the Auckland market to a halt, argues economist Tony Alexander.
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Bright outlook for non-banks
Non-bank lenders are on course to grow market share in mortgage and business lending, according to KPMG head of banking John Kensington.
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Advisers react to ANZ's LVR decision
Advisers have responded to ANZ's move to raise deposit requirements for investors. Here's what the industry said:
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ANZ gets tough on investors
ANZ New Zealand has lifted its deposit requirement for residential property investors to 40%, marking a major change in the lending market.
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Housing crisis a supply issue
Economists at Kiwibank say DTIs and LVR restrictions will have a "near-term" impact on housing demand, but argue supply-side changes are the key to fixing the housing crisis.
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Reserve Bank asks for DTIs
Reserve Bank governor Adrian Orr has asked Finance Minister Grant Robertson to add debt-to-income ratios to its macro-prudential toolkit, as it responds to government pressure on house prices.
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Business lending boost in 2021?
Banks will be more willing to lend to businesses in the new year, driving New Zealand's economic recovery, according to economist Tony Alexander.
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Development loans fall
Residential property development loans have fallen by 18% year-on-year, according to Reserve Bank data, with advisers calling for changes to fix the house-building crisis.
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SHARE outlines growth plans
SHARE chief executive Tony Dench says his firm has further growth ambitions after sealing the takeover of Newpark Group.
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Advisers against bright-line test extension
Mortgage advisers are strongly opposed to any extension of the bright-line test, as speculation mounts that the government will change the law.
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Jeff Royle and Resimac team up for investor loans
iLender's Jeff Royle has teamed up with Resimac to launch a new loan product for investors impacted by strict bank lending criteria.
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BNZ warned over responsible lending failings
The Commerce Commission has warned BNZ over "likely" responsible lending breaches, and failures to give borrowers timely and accurate information.
