A marginal lending decision
Insufficient buffer in lending decision contributes to difficulties in paying the loan.
Topic: Finance and loans
When circumstances change
When Wiremu and Marama’s income unexpectedly reduced they could not afford to repay the loan, resulting in the forced sale of their home.
Doing the right thing
Kaia could not afford to repay her loan, so her lender took a compassionate approach.
That’s not my debt
Linda’s sister stopped making payments towards her car loan, so the lender asked Linda to pay.
Gambling may affect loan affordability
Lender did not consider information they had about the level of customer’s gambling.
No affordability or suitability checks for consumer loan
Lender failed to carry out affordability and suitability checks for a consumer loan.
Loan payment holiday
Four weeks’ payment holiday for eight weeks’ additional payments.
Fraudulent account opened by partner
Fraudulent account opened by partner using my driver’s licence.
Responsible lending obligations rest with the lender
The lender did not adequately verify income leading to an unaffordable loan.
Affordability assessment mistake
Finn’s rent was mistakenly recorded in a lender’s affordability assessment, leaving the loan unaffordable.
