Banks are clearing a backlog of lending requests after 'unacceptable' delays of up to five weeks, which caused stress for borrowers before Christmas.  

A significant drop in interest rates late last year resulted in a surge of new home loan applications and refinancing and restructuring requests, according to mortgage brokers.  

Loan market advisor Michelle Isemonger says the weeks before Christmas are always a busy time - but December's OCR drop inspired this notable increase in applications.

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Banks are clearing a backlog of lending requests after 'unacceptable' delays of up to five weeks, which caused stress for borrowers before Christmas. &nbsp;
A significant drop in interest rates late last year resulted in a surge of new home loan applications and refinancing and restructuring requests, according to mortgage brokers. &nbsp;
Loan market advisor Michelle Isemonger says the weeks before Christmas are always a busy time - but December's OCR drop inspired this notable increase in applications.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Michelle Isemonger: loan market advisor on the backlog impacting loan requests

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/21008f52-2687-4ed7-b7c5-b2800071fb08/transcript