The Government is making changes to the Credit Contracts and Consumer Finance Act (CCCFA) hoping to make it easier for people to access a loan.
It is removing 11 pages of affordability regulations, which prescribed minimum steps to assess the affordability of a loan. Housing Minister Chris Bishop said lenders would still be required to act responsibly.
Watch: Andrew Bayly defends easing lending criteria
Original article: Sat, 27 April 2024 – https://www.1news.co.nz/2024/04/27/what-is-happening-with-the-housing-market/
