ANZ joins Westpac in restricting loans to property investors early

Wed, 20 Jul 2016

By Fiona Rotherham July 21 (BusinessDesk) - ANZ Bank New Zealand is the second bank to announce it will not take any new loan applications from property investors who do not have a 40 percent deposit, some six weeks earlier than required by the Reserve Bank. Westpac Banking Corp made the same move yesterday after the central bank said earlier this week it intends having the new lending restrictions in force by Sept. 1 and asked lenders to comply with the spirit of the new regulations immediately. These regulations extend and expand the de...

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