Lockdown issues hit home loans

As the 60 day period runs out for many borrowers in lockdown, and with home buyers unable to complete their purchase, advisers say they have encountered issues with lenders such as ASB.

Two advisers said the big four bank was not automatically granting extensions on previously-agreed fixed rates.

The advisers told TMM Online that ASB customers had been forced to apply for new pricing.

One broker said ASB had given their client an extra five days to settle their home purchase. However, this was not enough time, due to Auckland's extended lockdown.