GoodReturns
976519524
Eric Frykberg
Eric Frykberg
6
6 Comment
Save Story
TMM - News

BNZ first bank to introduce DTIs

Friday 29th of October 2021

It is limiting the amount of money people can borrow under a debt to income ratio, or DTI.

This is being set at six times the amount of money that is earned by a borrower.

The bank explained its actions by saying it is a responsible lender and takes its obligations seriously. 

It is are making these changes to mortgages that are gained via a mortgage broker in the first place.     The bank is however looking at how to extend this policy to 'walk in' mortgages as well.  

Want to read the full article?

Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.

You will also be able to comment on articles on Good Returns.

Sign in
Previous Article Next Article
Latest News
MBIE confirms investigation into FMA
MBIE confirms investigation into FMA
1 min read
KiwiSaver funds shake off Middle East tension
KiwiSaver funds shake off Middle East tension
2 min read
Staffing cuts helped Fisher Funds lift annual net profit 21.7%
Staffing cuts helped Fisher Funds lift annual net profit 21.7%
3 min read
[The Wrap] What the heck is happening at the FMA?
[The Wrap] What the heck is happening at the FMA?
3 min read
TMM - News
More Read
Potential damages a snag in oppostion to TSB Bank sale to Heartland
Potential damages a snag in oppostion to TSB Bank sale to Heartland
2 min read
Mortgage holders still riding lower interest rates
Mortgage holders still riding lower interest rates
2 min read
Pace of interest rate increases not clear cut
Pace of interest rate increases not clear cut
4 min read
Unilaterally changing mortgage arrears payment dates leads to trouble
Unilaterally changing mortgage arrears payment dates leads to trouble
3 min read
Latest Comments
Fidelity Life offers premium relief to customers affected by flooding
Stay in touch with your Clients and Prospective Clients, not by email, not by text Pick up the phone and meet them for a coffee, or a wine…
2 months ago AlBean
Fidelity Life offers premium relief to customers affected by flooding
Longitude68 is right that AI is reshaping wealth advice fast - it's already widespread offshore, even if not yet here, and our industry will need to catch up quickly to deliver more deliberate, efficient client solutions. That said, most clients I encounter - largely Silent Generation and Boomers - will keep paying a relationship premium, within reason, to continue with a trusted advisor. Technology's real impact will be displacing advisers built around a single product or philosophy, which will be exposed as the commodities they are.
3 months ago Pragmatic
Can the NZ economy grow while house prices stagnate?
Between Silk & Conway they currently receive from the NZ taxpayer a salary package in excess of $1M annually. Given they and former Reserve Bank Governor Adrian Orr were collectively responsible for the decisions which saw NZ house prices spiral out of control it's baffles belief now that they still have jobs.
3 months ago Amused
Fidelity Life offers premium relief to customers affected by flooding
you will never give or receive a warm handshake from AI when you are seeing a client for a terminal illness claim, and you both know you will never see each other again. AI can not look a widow in the eye and tell her it will take care of things, and it will be OK.
3 months ago Aggressively_passive
Fidelity Life offers premium relief to customers affected by flooding
A high level of my appointments are now being made with an AI agent. “Sarah” responds to inquiries by phone, converses with prospective clients then books them into my calendar. Yesterday a prospect asked Sarah whether she was an AI robot. Sarah responded with a yes and continued to tell him a joke, which he had requested. That interaction was enough for this engineer to proceed with a booked appointment with me. Only time before this old dog is replaced I guess.
3 months ago John Milner