Photo: Getty ImagesThousands of home owners are slipping behind on mortgage payments, while other would-be buyers are rushing to get finance. More than 240,000 mortgage payments have been missed since April - worth about $2.2 billion. McHugh said if mortgage arrears increase, that could make lenders more cautious and people facing hardship, should discuss options with their lender. A mortgage broker at Mortgage Link Hawke's Bay, Peter Barry, said would-be buyers are now waiting two weeks for an appointment. "It's the complete opposite of what we were expecting ... there are a huge number of enquiries about finance."

Source: Otago Daily Times August 20, 2020 22:18 UTC