ANZ eases servicing test

ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.

Non-banks get Covid boost

Non-bank lenders have reported a flood of new customers turned away by the banks in the wake of the Covid-19 pandemic, as traditional lenders stick to conservative credit limits.

Avanti launches near-prime home loans

Non-bank lender Avanti Finance has launched a near-prime home loan as it seeks to attract new customers with stronger credit profiles.

Mortgage holidays set for extension

Minister of Finance Grant Robertson says the Reserve Bank could extend mortgage holidays for struggling borrowers. 

Negative OCR in April 2021: Westpac

The Reserve Bank will still need to slash the official cash rate to negative territory next year, despite a better-than-expected recovery from the Covid-19 pandemic, according to Westpac economists.

Home lending jumps in June

New mortgage lending jumped to $5.3 billion in June as the market recovered strongly from the Covid-19 lockdown.

More stories
  • Turnaround times deteriorate: survey

    Turnaround times "seem to have got worse" following Covid-19, according to a new survey conducted by economist Tony Alexander.

  • OCR hold call is straightforward: BNZ

    A stronger than expected recovery from the depths of lockdown mean an Official Cash Rate hold is "straightforward" next month, according to economists at BNZ.

  • ASB eases servicing criteria

    ASB Bank has eased its lending servicing criteria after cutting home loan rates for high LVR borrowers last week.

  • Servicing tests hinder home loan market

    Tough servicing tests continue to hinder the home loan market, leaving borrowers unable to tap into attractive headline interest rates.

  • ASB cuts rates for high LVR borrowers

    ASB Bank will no longer charge high LVR borrowers a higher interest rate, promising to offer the same price "irrespective of equity levels".

  • Heartland eyes relaunch of digital home loan

    Heartland says its 2.95% digital mortgage product was a hit with borrowers, and could the relaunch online offering when the lending market settles down.

  • Profits below expectations at General Finance parent

    General Capital, the parent of non-bank lender General Finance, saw profits fall below expectations in the year to March, despite a 254% increase in net profit for its lending arm. 

  • Why bank changes are good for advisers

    The days of face-to-face banking may be numbered with the big banks closing branches around the country in the wake of Covid-19, but this change could work out well for advisers.

  • Advisers buoyed by strong property market

    The New Zealand property market has emerged strongly out of lockdown, according to mortgage advisers, who say they are busy as ever this winter. 

  • Bank profits drop 20%

    Bank profits plummeted by 20% in the three months to March, with the early impact of Covid-19 hammering the sector, according to a new report from KPMG. 

Most Read
Most Watched

Get TMM delivered to your inbox each week

Sign Up