November 2021
Credit Contracts and Consumer Finance Act The Credit Contracts and Consumer Finance Act 2003 (or ‘CCCFA’) requires all lenders, including ba…
July 2021
Changes to the Credit Reporting Privacy Code 2004 come into force throughout 2019, to keep the system fair. A credit report contains inform…
A bank typically takes debt recovery action because a customer owes it money and is not making repayments. When customers complain to us abo…
February 2022
When you sell a property with a mortgage, you can usually keep whatever money is left after repaying the bank loan (unless, of course, you t…
Loan-to-value-ratio restrictions on banks' home loan lending are a Reserve Bank measure to slow rising house prices. For banks, it means no …
An overdraft gives a customer access to more money than is actually in his or her account. An overdraft facility can be arranged or unarrang…
Home loans are commonly referred to as mortgages, but a mortgage is actually a charge over a property. When a bank lends money, it requires …
Banks will sometimes lend a customer money only if someone else provides a guarantee. If you agree to be a guarantor for a borrower, the ban…
Customers who borrow money at a fixed interest rate for a fixed term enjoy the benefit of knowing exactly what their repayments will be over…