Westpac to factor natural hazard risk into mortgage decisions

'A careful balance': Westpac limits lending to houses in flood-prone areas

Infometrics Principal Economist Brad Olsen told Ryan Bridge that this decision was a long time coming, and other banks will likely follow suit.

Westpac to factor natural hazard risk into mortgage decisions

Westpac may limit how much it lends to some would-be homebuyers if the property is at high risk from climate hazards like flooding and erosion.

Westpac moves to limit exposure to natural hazards

Westpac is tightening mortgage lending on properties it considers to be highly vulnerable to flooding and landslips. The bank said the changes would affect fewer than 2.5% of mortgage applications, with lending decisions assessed individually. Westpac will not automatically reject applications or charge higher interest rates based on natural hazard risks. The bank also began […]

Westpac to provide natural hazard risk reports to would-be homebuyers

Westpac NZ to offer potential homebuyers a natural hazards report based on the same data it considers in lending decisions