Stay updated with breaking news from Judge bouchier. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Wānaka lockdown breach couple named, apologise for 'irresponsible and inexcusable' actions stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Business Scoop » $400,000 Fine For "carefully Crafted" Home Funding Group Scheme scoop.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scoop.co.nz Daily Mail and Mail on Sunday newspapers.
Home Funding Group fined $400k over 'savings' scheme rnz.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rnz.co.nz Daily Mail and Mail on Sunday newspapers.
The company offered services to prospective home buyers who found it difficult to save for a deposit or qualify for bank finance, the Commerce Commission said. “It claimed to operate a savings scheme which could assist customers to purchase a home with a deposit as low as 5 per cent. However, customers’ payments were not paid into or treated as being in any form of savings scheme,” said commission chair Anna Rawlings. The contracts that customers entered into were for a brokerage and financial coaching service. Between February 2015 and April 2017 HFG received $316,361 from 149 customers, who typically paid $50-$100 per week. “The claims made by HFG induced consumers to make regular payments to HFG in the belief they were putting money towards a house deposit. They were not,” Rawlings said. ....