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Mortgagee sales continue to decline
Mortgagee sales continue to
decline
Mortgagee sales continue to
decline according to Terralink data for the September
quarter released today.
There were 516 mortgagee
sales in the three months from July to September this year,
down 15 per cent from the June quarter.
Of the 1.4
million residential mortgages in New Zealand, there were
2265 mortgagee sales in 2011. Mortgagee sales account for
around 0.2 per cent of all mortgages.
“Mortgagee
sales are always the last resort for banks. It's not in
anyone’s interests that they occur,” said New Zealand
Bankers’ Association chief executive Kirk Hope.
“Banks work very hard with customers who find
themselves in financial difficulty. People who are having
trouble should speak to their bank as soon as possible.”
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