31/05/2022
𝗖𝗖𝗖𝗙𝗔 - 𝘌𝘢𝘴𝘪𝘯𝘨 𝘰𝘧 𝘙𝘦𝘴𝘵𝘳𝘪𝘤𝘵𝘪𝘰𝘯𝘴
"It's good they've moved on it because it's been the biggest credit crunch since the GFC (global financial crisis) essentially ."
"They just need to take an average cost of living, look at what you're spending on your fixed expenses we don't need to know about your Netflix, we don't need to know that you go the cafe every morning for your morning tea we just need to look at your fixed expenses, everything else is adjustable."
"The time it's taking us on average, and the banks, is probably six times as long as it was previously to go through three months worth of bank statements, itemise every item, decide whether it's a regular or a non-regular payment, then go back to the client to clarify it. It'll certainly get things moving."
The rules had not only resulted in more applications being declined, but a huge number of people being able to borrow significantly less than previously, he said.
Comment Source : https://www.rnz.co.nz/news/business/463104/lending-rules-that-hit-credit-approvals-to-be-eased-government-announces
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