March 21, 2022 In Bramwell Bate News By Cherie Hannam

Understand legislation changes to land before acting

First published in The Profit. Written by Amy Cowan. A hot topic for many years has been the house market. Specifically, how the Government has attempted to create affordable housing for those priced out of the market. The most recent of these is the National Policy Statement on Urban Development 2020 and the proposed repeal and replacement of the Resource Management Act. Hastings and Napier District Councils will be required to review their existing District Plans to determine where and how...

March 11, 2022 In Bramwell Bate News By Cherie Hannam

Government Announces Practical Amendments to the Credit Contracts and Consumer Finance Act

Written by Lois McLintock In December 2019, the Government’s amendments to the Credit Contracts and Consumer Finance Act 2003 were implemented. These changes required lenders to follow a more robust investigation process to ensure any potential lending would be suitable and affordable for prospective borrowers. The intention of this was to protect those borrowers who may find themselves taking out high-cost loans and creating unaffordable debt. Following ongoing feedback from banks, other lenders, and consumers, that a number of borrowers that...

January 19, 2022 In Bramwell Bate News By Cherie Hannam

Government Introduces Further Amendments to Overseas Investment Rules

The Government introduced a number of amendments to the Overseas Investment Act 2005 (the OIA) on 24 November 2021, following several incremental amendments implemented throughout 2021. The OIA governs overseas investment in sensitive land, significant business assets and fishing quota, and recent reforms aim to support and attract quality overseas investors whilst managing risk. Three key recent amendments relate to the sale of farm land, the sale of fresh or seawater areas and the “benefit to New Zealand” test. 1. Sale of...