The Reserve Bank plans to bring in the long-expected debt to income ratios (DTI) but ease the loan to value ratios.
A large number of Kiwis will refix their mortgages over the coming year.
It comes after the Reserve Bank raised the Official Cash Rate by a record 75 basis points.
Interest rates are on the rise, meaning higher repayments for borrowers.
One person said it meant she had to weigh up whether to pay for a therapist - or keep the money in the bank.
In January, 83 percent of survey respondents said banks' willingness to lend had reduced.
"An important factor this year will also be the impact of higher mortgage rates on the many borrowers who have fixed loans due to refinance."
The petition has racked up over 5000 signatures.
Between September 2005 and March 2020, 35,000 home loan customers didn't have fee waivers applied to their accounts, FMA says.
