Mortgage News

Low-equity fees face legal questions

Monday 7th of April 2014

Last year the Commerce Commission won a case against Sportzone Motorcycles and MTF centred on lending fees.

The judgment confirmed the commission’s position that lending fees must be related to the activity that the fee is charged for. It also said the fee has to relate to the particular transaction it is being charged against, as opposed to being a cost charged against the general...

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