Mortgages

NZMBA prepares for regulation

The New Zealand Mortgage Brokers’ Association is working on getting the government to accept a regulatory framework based on self-regulation with "empowering legislation" backing it up, retiring association chairman Brian Berry says.

Wednesday, September 08th 2004

Late last month, Commerce Minister Margaret Wilson announced that the government was setting up a task force to look at ways of regulating financial intermediaries.

"Regulation isn’t a matter of if, but when," Berry told last week’s NZMBA annual conference.

Since the government’s only interest is in protecting consumers, the NZMBA has to be able to assure it that it has the appropriate processes in place to do that, Berry said.

As part of that, the NZMBA has developed a template for disclosure, including a personal disclosure statement, which is intended to become compulsory for all members, he said.

The NZMBA is working on empowering inter-lender and inter-broker communication, particularly the sharing of information relating to potential breaches of ethics and standards, he said.

Read More - Opens in a new window
Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.35
TSB Special 4.39
Co-operative Bank - Owner Occ 4.45
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Westpac Special 4.45
SBS Bank Special 4.49
BNZ - Std 4.49
Kiwibank Special 4.49
TSB Special 4.49
AIA - Go Home Loans 4.49
ANZ Special 4.49
ASB Bank 4.49
Co-operative Bank - Owner Occ 4.49
ICBC 4.59
Wairarapa Building Society 4.59
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
BNZ - Std 4.99
AIA - Go Home Loans 5.15
ASB Bank 5.15
Co-operative Bank - Owner Occ 5.19
ANZ 5.39
TSB Special 5.39
Kiwibank Special 5.39
Kainga Ora 5.49
SBS FirstHome Combo 3.44
AIA - Back My Build 3.54
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
Co-operative Bank - Owner Occ 4.99
Co-operative Bank - Standard 4.99
ICBC 5.39
Heartland Bank - Online 5.45
Kiwibank - Offset 5.65
Kiwibank 5.65
ANZ 5.69

More Stories

Houses selling at a loss hit a 12 year high

Wednesday, November 26th 2025

Houses selling at a loss hit a 12 year high

About one in five Auckland residential properties (19.3%) sold for less than their original purchase price in the third quarter, up from up from 15.9% in the second quarter.

OCR Preview: How far is far enough for the RBNZ?

Friday, November 21st 2025

OCR Preview: How far is far enough for the RBNZ?

Economists expect the OCR to drop another 0.25% to 2.25% next week, with a 50/50 chance of another cut in February.

Market recovery signals consistent with interest rate falls

Monday, November 03rd 2025

Market recovery signals consistent with interest rate falls

The early stages of a property recovery could have appeared in the past two months, Kelvin Davidson, Cotality chief property economist says.

Another swipe at property investors

Thursday, October 30th 2025

Another swipe at property investors

Labour’s capital gains tax of 28% on residential and commercial property won’t deter investors who invest for cashflow, Nick Gentle, iFind Property founder and buyer’s agent says.