The Reserve Bank says that banks must continue to lend to “creditworthy” borrowers.
In releasing its six-monthly Financial Stability Report today, the central bank warned that credit growth had slowed in recent months.
“Lending criteria have tightened and some businesses are reporting difficulties in obtaining credit,” RBNZ Deputy Governor Grant Spencer said.
At Professional Investment Services we have noticed an alarming number of service issues as well. In Australia for example it is taking months to get loans settled whilst here in NZ the philosophy of the lenders has certainly changed, it’s no longer let’s see how we can make this deal work it’s now lets see how to decline it.
The knee jerked a long way and now it’s time to bring it back.
