Are non-bank lenders able to full the mortgage lending gap?
Stuff.co.nz, 30 January 2022
Non-bank lenders are reporting a surge in mortgage inquiries in the wake of new lending rules, but those applications are not guaranteed success, Lyn McMorran, executive director of the Financial Services Federation says. Changes to the Credit Contracts and Consumer Finance Act (CCCFA), which came into force on December 1, require lenders, including banks, to scrutinise borrowers far more rigorously than in the past.