Tell us how the credit crunch is affecting you

We are hearing an awful lot about how the credit crunch is hitting financial markets in the Northern Hemisphere and how many large and small companies in Europe and North America cannot get short term finance to run their businesses or how banks are calling in delinquent home loans. But we haven't seen that much publicly here in New Zealand about how bank lending is going....yet. There are not mass mortgagee sales or tales of loans being called in. On the surface activity appears normal. But a few things have started to trickle through.  

• ASB's Sovereign Home Loans has stopped lending where loan to value ratios are above 80% or where borrowers want 'Low Doc' loans where they don't have documentation to prove income.
• Asteron withdrew from home lending.
• GE Money Home Loans withdrew its offer of 2 and 3 year mortgage lending.
• PGG Wrightson says its attempts to raise bridging finance for its deal to buy half of Silver Fern Farms fell over because of the Credit Crunch
• Mataura Valley Milk's plans to build a NZ$90 million dairy factory near Gore in Southland were suspended because of financing difficulties
• Housing loan approvals fell by a record amount to a record low for a non-Christmas week in the week to October 3

  I've also heard anecdotal evidence of the following; In the last week BNZ refused to roll over a 7 year old student loan and asking for it to be repaid within a couple of weeks. Previously BNZ had offered top ups for the loan. National Bank rang a customer last Friday and advised a NZ$50,000 credit limit on a card was being cut to NZ$10,000. The customer said he only used NZ$1,000-NZ$2,000 a month and paid it off in full. He was told this was part of a general tightening of lending. This may well be the usual rough and tumble of banking or related to specific situations. I have been unable to check. ANZ National say they have not changed their lending criteria in recent weeks. Westpac and BNZ say the same. What's your experience? Are loans rolling over as per usual? Are credit limits and overdrafts being cut? Are loans being called in? Are new loan applications being rejected? Have new lending criteria been changed? I welcome your anecdotes.