Hardship clients face credit issues

Unlike last year, when the Government and Reserve Bank's loan deferral scheme granted borrowers leeway to apply for deferrals, lenders are said to be taking a harder line in this lockdown.

There is no loan deferral scheme this time around, despite Auckland remaining in alert level four for a longer period than in early 2020. 

According to Glen McLeod of Edge Mortgages, customers are being told that making changes to their mortgage will impact future borrowing.

"In most cases I am being told by clients that they are advised it will affect their credit rating," he told TMM Online.