Credit rules change to make mortgage lending easier
From March, borrowers will no longer be unfairly penalised when they try to get money to buy a house.
Commerce and Consumer Affairs Minister David Clark.
The Government is changing the credit rules banks and other lenders must apply so borrowers will no longer be unfairly penalised when they try to borrow money to buy a house.
But the changes will not come into effect until March next year.
The regulations generated by the Credit Contracts and
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