Gold has surged in the past 18 months, climbing from around US$2,600 an ounce in early 2025 to close to US$4,750 by April 2026. But for many of the world’s biggest financial institutions, the real story is not just the price rise. It is the growing belief that gold deserves a permanent place in a diversified portfolio.

A recent report highlighted by State Street makes the case that gold should no longer be viewed simply as a crisis asset or a short-term trade. Instead, it argues gold can play an ongoing role in helping investors manage risk, protect wealth and strengthen long-term portfolio outcomes.

Gold’s role is becoming more strategic

State Street’s research centres on three core benefits of gold: diversification, capital appreciation and wealth preservation. One of the most important findings is that gold has historically shown very low correlation with both shares and bonds over long periods. In practical terms, that means it has often behaved differently when traditional assets come under pressure.

The firm also modelled portfolios with different levels of gold exposure and found that adding gold improved returns while reducing risk over a 20-year period. Portfolios with gold allocations of up to 10% delivered stronger annual returns and smaller drawdowns than those with no gold at all.

“Gold is no longer just something investors turn to in a crisis. More of the world’s biggest institutions now see it as a strategic, long-term holding that can sit alongside shares and bonds in a diversified portfolio.” Says Tony Coleman, managing Director of New Zealand Gold Merchants.

Central banks continue to support demand

A major reason for this shift is strong central bank buying. Official sector demand has remained well above historical averages, as countries continue to diversify reserves and reduce reliance on the US dollar. That buying has created an important layer of support under the gold price and strengthened the long-term investment case.

Gold also remains highly relevant in periods of inflation and currency weakness. Data sourced from State Street shows gold has historically performed well when inflation is elevated, while also tending to move inversely to the US dollar. For investors focused on preserving purchasing power, those characteristics remain especially important.

Why liquidity still matters

Another point often overlooked is liquidity. Gold is one of the most actively traded asset classes in the world, with deep global markets that can remain functional even during periods of financial stress. That matters because investors value assets they can access when other parts of the market become more difficult to navigate.

Of course, gold is not a replacement for growth assets. It does not generate income, and its price can still be volatile over shorter timeframes. But the message from major global firms is increasingly clear: gold’s role in a portfolio is becoming more strategic, not less.

It’s also worth noting; January’s sell-off in precious metals appears to have been driven more by market structure than deteriorating fundamentals, as higher COMEX margins increased the cost and risk of holding contracts.

What the major banks are forecasting

That longer-term view is also reflected in forecasts from some of the biggest names on Wall Street. Goldman Sachs has a year-end target of US$5,400, while Wells Fargo sees US$6,100 to US$6,300. J.P. Morgan is even more bullish, projecting gold could reach US$6,300 by the end of 2026.

While forecasts will always move with the market, the broader point is that the underlying drivers remain firmly in place.

“The forecasts themselves may change, but the fundamentals behind them are hard to ignore. Central bank buying, diversification demand, inflation concerns and ongoing geopolitical uncertainty are all helping reinforce gold’s long-term appeal.” Says Coleman.

Strong turnover, loyal clients, and a growing business do not always translate into mortgage approval. That is the frustrating reality for many self-employed New Zealanders, and it is a problem that has been highlighted recently in InfoNews finance coverage.

At First Rate Mortgages, we see this issue regularly. People assume that if a business is profitable and the household cash flow feels manageable, getting a home loan should be straightforward. In practice, lenders often assess self-employed borrowers differently from salaried applicants, and that gap between real-world income and bank-assessed income is where many applications run into trouble. ANZ’s home-loan application guidance, for example, says self-employed applicants need to provide financial statements, preferably through their accountant, alongside other income and expense information.

One of the biggest reasons for that disconnect is that self-employed income is rarely simple. A business owner may earn well over the course of a year, but if that income moves up and down from month to month, is retained in the business, or is reduced on paper through legitimate tax deductions, the application can look very different from a standard PAYE salary profile. Lenders are not just asking whether the business is active. They are asking whether income is stable, well documented, and likely to continue. That is why verified financial statements matter so much in self-employed applications.

Another issue is that self-employed borrowers are often judged not only on profit, but on how clearly the numbers tell a story. When business and personal spending are mixed together, drawings are inconsistent, or recent performance has changed significantly, lenders may become more cautious. This does not always mean the borrower is high risk in a practical sense. It often means the file is harder to interpret within standard lending criteria, and major banks make clear that lending remains subject to criteria, terms, conditions, and fees.

Timing can make the problem even worse. A self-employed person might have had a strong recent year but a weaker period before that. They may have changed business structure, taken a short-term hit to invest in growth, or reduced taxable profit through depreciation and expenses. From the borrower’s point of view, that can all be perfectly sensible. From a lender’s point of view, it can raise questions about consistency and serviceability if the documents do not clearly support the story.

This is also why many self-employed borrowers are surprised when they are told to wait. They may have enough deposit, no missed repayments, and strong demand for their services, yet still be declined or offered less than expected. In many cases, the issue is not whether they can repay the loan. It is whether the application shows that in a way that fits mainstream bank processes. As InfoNews recently noted, profitable self-employed borrowers can still fall short of mortgage approval even when the business itself appears healthy.

The good news is that a decline is not always the end of the road. Often the better question is not “Can this person borrow?” but “How should this application be presented, and which lender is best suited to it?” Some lenders are more comfortable than others with self-employed income, contract income, or more complex documentation. The outcome can depend heavily on having the right financial information prepared from the start and matching the application to the right lending policy. Bank guidance in New Zealand consistently shows that different products and approvals remain subject to each lender’s own criteria and assessment.

For self-employed borrowers, preparation matters more than ever. Clear financial statements, up-to-date records, clean separation between business and personal accounts where possible, and a well-explained income history can all make a significant difference. So can getting advice before making offers on property, rather than after a bank has already pushed back. ANZ’s published application guidance makes it clear that proof of income, expenses, and supporting documentation are central to the process, especially for self-employed applicants.

At First Rate Mortgages, our view is simple: self-employment should not automatically put someone in the too-hard basket. But it does mean the lending process needs to be approached differently. A business owner with genuine income, good discipline, and a workable deposit may still be in a strong position to buy. The key is understanding that mortgage approval is not just about what you earn. It is about how that income is evidenced, interpreted, and aligned with lender policy. That is where many otherwise capable borrowers get caught out.

In a market where more New Zealanders are earning through contracting, business ownership, and flexible income streams, this issue is only going to become more important. The challenge for borrowers is to prepare properly. The challenge for advisers is to help translate a strong business story into a strong lending application. And for self-employed Kiwis who have been told no too quickly, that distinction can make all the difference.

Managing your finances can be tough, especially if you have a mortgage, KiwiSaver, and future plans to think about. Whether you’re buying property in Christchurch, starting a family, or planning for retirement, it’s important to choose a reliable financial advisers in Christchurch.

So, how can you tell the real experts from those just trying to make a sale?

New regulations have made New Zealand’s financial advice industry safer for consumers. However, finding the right adviser still takes some research. Here’s what you should know to find a trustworthy financial adviser in Christchurch.

You can hire an adviser from anywhere in New Zealand, but working with someone local to Canterbury has real advantages. Local advisers know the Christchurch housing market, business trends, and insurance issues that came up after the earthquakes. Many people also prefer meeting in person.

Understanding New Zealand’s Financial Regulations

Before you start looking for advisers, it’s important to know what makes someone qualified in New Zealand.

In 2021, the government brought in new rules through the Financial Services Legislation Amendment Act. Now, the Financial Markets Authority (FMA) closely oversees the industry. Every adviser must either hold, or work for someone who holds, a Financial Advice Provider (FAP) licence from the FMA.
The FSPR: All legitimate advisers must be registered on the public Financial Service Providers Register (FSPR).

The Code of Conduct: Advisers are legally obligated to put your interests first, treat you fairly, and only give advice in areas where they have proven competence and skill.

Step-by-Step: How to Find the Right Adviser

1. Identify Your Financial advisers have different areas of expertise.

Before you reach out, think about what you need help with—whether it’s your mortgage, insurance, KiwiSaver, or planning for retirement.

2. Search Reputable Networks

Don’t just do a quick online search. Use trusted sources to start your search:
Financial Advice NZ: Use their website Directory to filter professionals by Christchurch area and expertise.

Personal Referrals: Ask friends, family, or colleagues in Christchurch who they use, but remember that their financial goals might differ from yours.

3. Check the Register

After narrowing your list, check the Financial Service Providers Register on the Companies Office website. If they aren't listed, move on.

4. Set Up Introductory Meetings

Most good advisers offer a free first meeting. Treat it like a job interview; you are choosing someone to protect your money.

The Golden Questions to Ask a Prospective Adviser
When meeting a potential adviser, use this list of questions. A trustworthy professional will answer clearly.

Are you licensed under the FMA? (Confirm they are operating legally under an FAP).

Are you independent? (Find out if they select products from the whole market, or if they are tied to specific banks or insurance companies.

How do you get paid? (This is crucial. Do you pay them a transparent, set fee for their time? Or do they earn a commission from the product providers they recommend? If they earn a commission, ask how they manage that conflict of interest.

What are your qualifications? (Look for NZ certificates in Financial Services or international CFP qualifications.)

What happens if I want to leave? (Ask if there are any exit fees or clawback charges if you cancel a policy or move your investments later.

The Ultimate Guide to Hiring a Reliable Financial Adviser in Christchurch

Even with strong regulations, it’s important to trust your instincts. Be very careful if an adviser shows any of these signs: No legitimate financial professional will ever promise or guarantee a specific investment return. Markets always carry risk.

Pressures you to act quickly: Good advice never involves high pressure or urgency.n: A great adviser's primaUses confusing jargon: A great adviser’s main job is to explain things clearly. If they can’t describe their strategy in plain English, they may not be the right choice. The recommendations you receive should be documented in a written Statement of Advice that clearly outlines the scope of their service and why the recommendations suit your goals.

The Bottom Line

Finding a reliable financial adviser in Christchurch takes time and research. Choose someone who helps you feel confident about your money. By checking the FSPR, asking clear questions about fees, and looking for local experience, you can build a financial plan that works for you.

If you want help setting specific financial goals before reaching out to advisers, or if you’d like a simple explanation of how different fee structures work, just let me know.

Auckland — April 2026

For the better part of three years, Auckland homeowners have been putting off renovations. High interest rates, rising material costs, and a general feeling that the timing wasn't right kept thousands of bathroom gut-outs, kitchen refreshes, and overdue repairs parked firmly on the "someday" list.

That changed in March, when ANZ Bank New Zealand launched a purpose-built renovation loan — a home loan top-up at 2.5% p.a. fixed for three years. It's available to existing ANZ mortgage holders with at least 20% equity, and it covers residential renovation work between $3,000 and $50,000.

To put the rate in context: ANZ's standard floating home loan rate has been sitting around 6–7%. Borrowing $50,000 at 2.5% over three years saves roughly $2,000 in interest compared to borrowing the same amount at 5%, according to ANZ's own figures.

What It Covers

The loan covers a wide range of residential work — bathrooms, kitchens, painting, decks, flooring, windows, roofing, and landscaping all qualify. New dwelling construction and business purposes are excluded.

According to ANZ's customer survey, bathrooms were the most popular planned renovation at 38%, followed by painting at 27% and kitchens at 24%. In Auckland, where a mid-range bathroom renovation typically costs $26,000 to $35,000 and a kitchen refresh sits between $20,000 and $40,000, the $50,000 cap covers the renovations most homeowners actually want to do.

Who Qualifies

This isn't a standalone personal loan. It's a top-up to an existing ANZ home loan, secured against the property. Owner-occupiers need a minimum of 20% equity (including the top-up), and investment property owners need 30%. The offer launched on 23 March 2026 and is available for a limited time only.

There's also a companion product — ANZ's Good Energy Home Loan — that covers energy-efficient upgrades like insulation, double glazing, and heat pumps at a discounted rate. The two products can be used together, which makes sense for homeowners bundling a bathroom renovation with window upgrades or ceiling insulation.

What the Industry Is Saying

Auckland renovation companies report that enquiry levels have picked up since the announcement. The combination of lower finance costs and pent-up demand from three years of delayed projects is starting to move homeowners off the fence.

Superior Renovations, one of Auckland's larger residential renovation companies, has published a detailed guide breaking down how the ANZ Reno Loan works — covering eligibility, LVR requirements under the Reserve Bank's rules, what the loan does and doesn't cover, and how it compares to other finance options available to Auckland homeowners. The full guide is available at https://superiorrenovations.co.nz/anz-reno-loan-nz/.

Why It Matters for Auckland

Auckland's housing stock is ageing. Many homes built in the 1980s and 1990s haven't had a major renovation since they were built. Bathrooms with original fittings, kitchens with laminate benchtops and single-drawer dishwashers, and aluminium joinery that leaks heat — these are the norm in suburbs from Henderson to Howick.

A dedicated low-rate renovation product changes the maths for homeowners who've been weighing up whether to renovate or wait. At 2.5% fixed, a $35,000 bathroom renovation costs significantly less to service than the same project financed at standard mortgage rates — and the renovation itself adds value back to the property.

With the offer flagged as limited-time, homeowners considering a renovation in the next 12 months have a narrow window where the finance side of the equation is working in their favour.

Important Disclaimers

ANZ lending criteria, fees, terms, and conditions apply. The 2.5% rate and all product details described above are sourced from ANZ's March 2026 public announcements and are subject to change without notice. This article is not financial advice. Homeowners should speak directly with ANZ or a registered financial adviser before making any borrowing decisions.

About Superior Renovations Superior Renovations is an Auckland-based residential renovation company specialising in kitchen, bathroom, and full home renovations. They operate a design studio and showroom in Auckland and have completed renovations across the wider Auckland region. Website: https://superiorrenovations.co.nz. Phone: 0800 199 888.

For many New Zealand businesses, getting paid is not the same as getting paid on time.

A company can be busy, profitable on paper, and doing all the right things, but still end up under pressure if its customers are taking 30, 60, or even 90 days to settle invoices. On the surface, that can look like a normal part of doing business. In reality, long payment terms often create a quiet but serious strain on cash flow.

The problem is not always the amount of work coming in. Often, it is the gap between when a job is completed and when the money actually arrives.

Cash flow pressure builds faster than many owners expect

Most business owners know late payment is frustrating. What is easier to miss is how quickly it affects everything else.

Wages still need to be paid this week. Rent still goes out on time. Suppliers still expect payment. Tax obligations do not move just because a customer has not paid yet.

That is where the hidden cost starts to show. A business may have strong sales, but if cash is tied up in unpaid invoices, the owner can end up scrambling to cover normal operating expenses. In many cases, the business is not short of work. It is short of access to the money it has already earned.

Growth can create more pressure, not less

One of the biggest surprises for growing businesses is that increased sales do not always make life easier.

If more work means more invoices being issued on long payment terms, the business can actually come under greater pressure as it grows. More staff may be needed. More stock may need to be purchased. More materials may need to be ordered upfront. But the cash from that extra work can still be weeks or months away.

This creates a situation where growth looks healthy from the outside, while internally the business is working harder just to keep up. Without enough working capital, even a busy period can become difficult to manage.

The real cost goes beyond late payments

When businesses wait too long to be paid, the impact usually spreads well beyond the invoice itself.

Owners may delay hiring even when they need more support. They may put off marketing, equipment upgrades, or stock purchases because cash is too tight. They may lose supplier discounts because they cannot pay early. In some cases, they may start using personal funds or emergency credit just to smooth over the gap.

None of this shows up neatly on an invoice. But it affects decision-making, confidence, and the ability to plan ahead.

The cost of delayed payment is not only financial. It is also operational. It limits flexibility at exactly the point where a business needs it most.

Long payment terms shift the burden onto the business

Many businesses accept long payment terms because they feel they have little choice.

In some industries, 30 day terms are standard. In others, 60 or 90 days has become normal, especially when dealing with larger customers. The issue is that these terms effectively shift the funding burden away from the customer and onto the business delivering the work.

That means the supplier, contractor, wholesaler, or service provider is carrying the cost of that delay.

For small and medium sized businesses, that can be especially hard. Larger companies may be able to absorb long payment cycles more easily. Smaller operators often feel the pressure much sooner, even when they are trading well.

Waiting too long can reduce options

Another hidden cost is timing.

Many business owners only start looking at funding once the pressure feels urgent. By then, choices can feel more limited and the situation more stressful than it needs to be.

The better time to review cash flow is usually before things reach that stage. If invoices are regularly being paid late, or if long payment terms are putting pressure on wages, suppliers, or day to day operations, that is often a sign the business needs to take a closer look at how it is funding its working capital.

That does not always mean taking on traditional debt. It may mean using a solution that better matches the way the business gets paid.

Why more businesses are looking at invoice finance

For businesses caught between completed work and delayed payment, invoice finance is one option that is getting more attention.

Instead of waiting for customers to settle invoices, a business may be able to access funding against those unpaid invoices sooner. That can improve cash flow, reduce pressure, and make it easier to manage the normal costs of trading.

For some businesses, it is less about borrowing in the traditional sense and more about unlocking money that is already owed to them.

That can make a major difference when payment delays are affecting the ability to operate smoothly or take advantage of growth opportunities.

Cash flow should not be left to chance

There is a difference between a business having a slow month and a business carrying ongoing cash flow pressure because of the way it gets paid.

Long invoice terms are often treated as normal, but that does not mean they are harmless. When businesses are forced to wait too long for their own money, the cost can show up in missed opportunities, stalled growth, delayed payments, and unnecessary stress.

Understanding that early matters.

For New Zealand businesses, the issue is not always a lack of demand. Often, it is the gap between doing the work and seeing the cash. And when that gap gets too wide, even a profitable business can start to feel the strain.

That is why more business owners are paying closer attention to cash flow, not just turnover. Because in the end, staying busy is one thing. Staying liquid is another.

If delayed invoices are putting pressure on a business, it may be worth reviewing whether the current cash flow model is still fit for purpose. Same Day Finance helps connect New Zealand businesses with providers who may be able to assist with funding options designed to ease that gap.

Strong turnover, loyal clients and a growing business do not always translate into mortgage approval. For many self-employed New Zealanders, the problem is not a lack of income — it is the way lenders assess it.

For many self-employed Kiwis, being declined for a home loan can feel confusing, frustrating, and at times deeply unfair.

They may be running a profitable business, meeting their obligations, managing debt responsibly, and generating more income than some salaried borrowers. On the surface, they look like exactly the kind of customer a lender should want.

Yet when the application goes in, the answer can still be no.

The issue is not always whether the borrower can afford the loan. More often, it comes down to whether their income fits the way mainstream lenders prefer to assess risk.

That distinction matters.

Banks are built around consistency. Salaried borrowers generally present a straightforward picture: a fixed income, regular payslips, PAYE history, and a clean paper trail. It is easy to verify and relatively easy to predict.

Self-employed income is rarely that simple.

A contractor may have strong annual earnings but uneven monthly cash flow. A company director may leave profits in the business rather than drawing them personally. A small business owner may legitimately reduce taxable income through expenses, only to find that what makes sense from a tax perspective does not help when it comes to borrowing. Another borrower may have multiple income streams that add up to a healthy overall position but look complicated when assessed line by line.

That is where many profitable self-employed borrowers run into trouble.

The business itself may be sound. The cash flow may be there. The long-term outlook may be positive. But if the income story is hard to package neatly into a standard lending framework, the application can become difficult very quickly.

In simple terms, profitability is not always the same as bank-ready income.

A borrower can be doing well in real life while still looking borderline on paper.

Timing also plays a major role. Business financials are backward-looking by nature. By the time accounts are prepared, signed off, and submitted, they may already be telling an older story. A business owner who has had a strong six or twelve months may still be judged largely on an earlier period that looked weaker, flatter, or more inconsistent.

That gap between present reality and recorded history can be a major problem.

A self-employed borrower may know their business is moving in the right direction. They may have repeat clients, future work booked, and a healthy pipeline. But lenders often place greater weight on completed accounts than current momentum. From a risk perspective, that caution is understandable. From the borrower’s perspective, it can feel like the system is ignoring what is actually happening on the ground.

This is especially common among borrowers who are not brand new, but not yet “perfect” on paper either.

Someone who has been self-employed for 12 to 18 months may be well past the start-up stage and trading strongly, but still not have the depth of financial history some lenders prefer. Likewise, a business owner who has had one softer year — perhaps due to reinvestment, a change in structure, or a temporary market slowdown — may find that a single dip carries more weight than the broader trend.

The result is that many capable borrowers end up being assessed less on the strength of their business and more on how easy they are to fit into a standard approval model.

That does not mean banks are getting it wrong.

It means they are cautious, system-driven, and designed to apply consistent lending rules across large volumes of applications. They are not built to assess every self-employed borrower in a highly customised way. Simplicity is easier to measure, so simplicity often gets rewarded.

The challenge is that modern work is becoming less simple.

More New Zealanders now earn through contracting, freelancing, consulting, company ownership, and multiple income streams. For many people, the traditional model of one employer, one salary, and one clean set of payslips no longer reflects the way they actually make a living.

That creates a growing mismatch between real earning power and assessable income.

It is one reason specialist advisers, including teams such as NonBank, often see borrowers who are not poor credit risks at all — they just sit outside the standard bank box.

And that is an important point. A decline is not always a judgment on the borrower’s financial strength. Often, it is a reflection of structure, timing, documentation, or policy.

Understanding that can make a real difference.

For self-employed borrowers, the best next step is often not giving up, but getting clearer on how their income is being presented. Up-to-date accounts, cleaner separation between business and personal spending, clearer evidence of ongoing work, and a better understanding of how drawings, retained earnings, and expenses affect serviceability can all improve the picture. In some cases, a specialist lending pathway may also help bridge the gap until the borrower is better aligned with mainstream lending criteria.

What matters most is recognising that the problem is often not income alone.

It is how that income is interpreted.

As self-employment becomes a bigger part of New Zealand’s economy, that issue is only likely to become more visible. Many self-employed Kiwis are financially capable, commercially experienced, and entirely able to meet home loan commitments. But unless lending models continue to evolve, plenty of them will keep hearing no — not because they are failing, but because their income is more complex than the system is comfortable with.

For borrowers, that can feel personal.

In reality, it is often structural.

And for a growing number of profitable self-employed New Zealanders, that structure is the real hurdle standing between them and home ownership.

Loansmart has reached a major milestone, recording its 1,000th verified customer review after 17 years of operating in New Zealand’s consumer lending sector.

The milestone reflects thousands of individual lending experiences and underscores the company’s long-standing commitment to people-first, responsible lending.

To acknowledge the milestone, Loansmart has quietly recognised the customer who authored the 1,000th review with a $1,000 cash gift. The decision was made only after the review was posted and verified, rather than being announced in advance.

Founder Murray Greig personally contacted the reviewer to thank them for sharing their experience.

“We were very deliberate about how we handled this,” Greig said. “We didn’t want to encourage reviews for the sake of hitting a number.”

The milestone review was written by Sarah H, who described clear communication, friendly service, and consistent support throughout her lending journey. In her original review, she praised consultant Sahil for making the process straightforward and easy to understand.

After being contacted by Loansmart, Sarah followed up with a message describing the impact the loan had made on her household.

“We’ve paid all our bills off thanks to the loan and we are free to breathe a little,” she said. “This wasn’t possible without your team. We’re also going to be giving back to the community with this.”

Greig said the response was a powerful reminder of the real-world impact behind each review.

“She didn’t think they would qualify for a loan, but our team was able to find a solution that worked for them,” he said. 

Loansmart says reviews have accumulated organically over time, often from customers who felt listened to after being declined elsewhere or supported through complex financial situations such as debt consolidation, refinancing, or changing personal circumstances.

The company is currently the only loan brokerage in New Zealand to hold affiliate membership with the Financial Services Federation (FSF).The FSF promotes responsible lending, industry best practice, and professional conduct, and supports members through advocacy, standards development, and compliance guidance.

“All of our consultants operate as registered financial advisers, which means every recommendation must be suitable, transparent, and in the client’s best interests,” Greig said. “Our FSF affiliation complements that by keeping us connected to industry best practice and ongoing professional standards

Customer reviews frequently reference clear explanations, respectful treatment, and practical lending structures - particularly in situations involving multiple debts or previous declines.

Each review represents a point where someone’s financial position shifted in a meaningful way,” Greig said.

Loansmart says the milestone reinforces its focus on responsible, people-centred lending as it continues to support New Zealanders navigating financial pressure. The company’s slogan Smarter Loans >> Faster  reflects the ethos that underpins every customer interaction.

ASB has lifted some of its fixed home loan and term deposit rates and lowered its 6-month home loan rate to a market leading 4.65%, in response to longer term wholesale rate movements.

Fixed mortgage rates are influenced by a variety of different market forces, including customer deposit rates, operating costs, the cost of overseas funding and wholesale interest rates. Unlike variable rates which are connected to the Official Cash Rate (OCR), fixed rates are more influenced by wholesale markets – essentially the price banks pay to buy the money they lend out. Right now, those wholesale costs are higher which flows through to home loan rates on some terms.

"While today's adjustments reflect the reality of higher funding costs, the change in market conditions is good news for some of our savers with term deposit rates increasing by up to 35 basis points," says Adam Boyd, ASB's Executive General Manager Personal Banking.

ASB has practical information for customers on the current interest rate environment available on its website as well as support to help customers take control of their financial wellbeing and achieve their goals at its Financial Wellbeing Hub.

The Banking Ombudsman is reminding Kiwis to take a few simple steps to protect their finances and get help if they need it over the holidays.

Watch out for scams

Scammers know people are busy and distracted at this time of year. Be wary of calls, emails or messages that result in requests for PINs, passwords or authorisation codes. Stop and check by contacting the organisation on the number from its website or via its secure site - not the one in the message. In one case, a customer received a call from someone claiming to be from her bank. She shared security codes with who she thought was her bank, leading to a $30,000 loss before the fraud was detected.

Banking Ombudsman Nicola Sladden said: "Scammers love the festive rush - don't let them ruin your holiday. Stop and check before you click, share or pay."

Know your rights with chargebacks

If something you buy online with your credit or debit card doesn't arrive or isn't as described, you may be able to request a chargeback through your bank. This reverses a transaction when products or services aren't provided as agreed. Act quickly - time limits apply - and keep records of your purchase and attempts to resolve the issue.

In one case, a customer booked a hotel room with free cancellation, but after confirming the booking, the details changed to two rooms priced in US dollars. The customer was charged NZ$481.85 and got no response from the merchant. The bank declined to initiate a chargeback, but we found it had overlooked a valid ground to claim a chargeback. As a result of our investigation, the bank reimbursed the full amount, plus $100 for inconvenience.

Ms Sladden said: "If your holiday booking goes wrong, you don't receive goods bought online or they aren't as described, a chargeback could save the day - but act fast and keep good records."

Banks are here to help - even during the holidays

If you spot an unauthorised transaction, have trouble making a payment, or are struggling with loan repayments, contact your bank straightaway. Most banks have support over the festive period, so don't wait until the New Year to get help.

Ms Sladden said: "Banks are open and ready to help, even during the holidays. If something's not right, reach out straightaway."

For more tips and real-life case examples, visit bankomb.org.nz/guides-and-cases.

The Taxpayers' Union is delighted Nicola Willis is going to front up for a debate on the country's fiscal pathway. All National Party Finance Ministers since Muldoon have had to tackle structural deficits inherited from Labour. Nicola Willis' challenge is no different to what Ruth, then Sir Bill English, faced.

Taxpayers' Union spokesperson Tory Relf said:

"Ruth is more than happy to debate the Government's debt, levels of public spending, balancing the books, and growth."

"The Government promised to reduce public spending. It's now higher than when Grant Robertson left office."

"The Government promised to tackle Labour's 30 percent increase in bureaucrats. They've managed to reduce the size of the core public service by not even one percent."

"The Government promised to get the books back into surplus. Unless you count a newly invented OBEGALx measure, the Government's fiscal pathway never gets New Zealand back into surplus."

"The Government promised 'growth, growth, growth'. GDP per capita is lower than when Grant Robertson was in office."

"The Government promised to reduce borrowing. Borrowing is still near Grant Robertson-era levels."

"Ruth is ready to debate the sorry state of our fiscal position after the release of the HYEFU next week."

The Taxpayers' Union are already speaking to various media organisations about the logistics of hosting next week. Media outlets interested in carrying or covering the debate are encouraged to get in touch.

The Taxpayers' Union is welcoming Finance Minister Barbara Edmonds' comments over the weekend that she will prioritise fiscal consolidation and getting the Government's books back in order.

Taxpayers' Union Spokesperson, Tory Relf, said:

"New Zealand can't keep running the country on the credit card. It's an encouraging sign to hear a possible future Finance Minister talking about balancing the books, but talk is the easy part."

"Prime Minister Luxon wanted to avoid a sugar hit but Nicola Willis is still spending more today than when Grant Robertson left office. Anyone who claims the solution is higher taxes rather than trimming back wasteful spending hasn't been paying attention to what households and businesses are already dealing with."

"It's going to take line by line inspection throughout the Budget, cutting programmes that aren't delivering, and stopping the habit of throwing money at problems in the hope they go away to get back to surplus. With Government debt now over $142,000 per household, more tax hikes are not the answer. Wellington finally needs to learn to live within its means."

Credit demand is surging again as New Zealanders return to the borrowing market. The latest Centrix Credit Indicator Report (September 2025) shows consumer credit demand rose 5.6% year-on-year, led by a 4.4% increase in personal-loan applications — the highest level since December last year.

While borrowing activity is increasing, the data also reveals that personal-loan arrears remain elevated at 9.0%, only slightly lower than earlier in the year and still above the same period in 2024. This combination of rising credit demand and persistent arrears highlights the importance of smart financial management heading into the busiest spending season of the year.

A Smarter Way to Manage Debt

At East Bay Finance, the team has found that sometimes the best way to move forward financially isn’t by taking on new debt - it’s by taking a closer look at what you already have.

For many Kiwis, restructuring existing loans can deliver significant benefits. By consolidating multiple debts into one well-structured loan, borrowers can often lower repayments, reduce costs, and free up space in their weekly budget.

From Stress to Stability

East Bay’s lending specialists regularly see the difference a tailored loan restructure can make. From families coping with higher living costs to homeowners catching up on overdue repayments, smart consolidation helps borrowers regain control, reduce pressure, and plan ahead with confidence.

With personal-loan arrears sitting at 9%, now is the ideal time to review your finances. A quick assessment before the expense peak of Christmas and the New Year can uncover ways to cut costs, simplify repayments, and start 2026 in a stronger position.

East Bay Finance has built its reputation on transparency, responsibility, and care.  Every recommendation is made with one goal in mind - helping clients borrow smarter, not harder.