Between September 2005 and March 2020, some 35,000 home loan customers were overcharged a total of NZD 1.1 million.
December 10, 2021The new law requires lenders to act responsibly at all times. They can be forced to refund interest, fees and damages for failing to do so.
December 1, 2021ASIC says ANZ breached credit laws by accepting customer information and documents from unlicensed individuals, some of which was fraudulent.
November 27, 2021APRA will publish a framework for implementing macroprudential policy to rein in the housing market and curb riskier home loans.
October 1, 2021ASIC says ME Bank made false or misleading representations about interest rates and repayment amounts to home loan clients.
September 15, 2021Starting on 5 October, a four-day pause will be introduced between the sale of a principal product or service and the sale of add-on insurance.
August 2, 2021Young adults and newly married couples will be eligible to apply for 40-year home mortgage loans under a government-sponsored programme.
June 24, 2021ME bank made "false or misleading" representations in home loan customer communications and failed to give timely notice of changes to the loan terms.
May 29, 2021Taiwan central bank says the measures are aimed at curbing property hoarding and mitigating speculation by highly leveraged borrowers.
March 23, 2021The ACCC recommends that lenders be required to regularly prompt borrowers to review their loan costs and consider switching products or lenders.
December 10, 2020