Banks get an extra month to meet new lending restrictions after playing ball with RBNZ

Paul McBeth
Fri, 12 Aug 2016

By Paul McBeth Aug. 12 (BusinessDesk) - The Reserve Bank won't impose new lending restrictions for highly-leveraged investment purchases until the start of October, giving lenders an extra month to clear their backlog of pre-approvals.  The central bank plans to extend mortgage lending restrictions on Auckland property investors to the rest of the country, making them more onerous by requiring a bigger deposit and reintroducing a uniform national cap on highly leveraged owner-occupier mortgages. The proposed changes, originally due to be...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
Positive earnings lift NZ sharemarket
Dan Brunskill | Fri, 20 May 2022

The NZ market was one of the few climbing markets as investors in other parts of the world worried about the risk of a global recession.

Law & Regulation
Unlawful collection of Companies Office fees fixed under urgency
Ian Llewellyn | Fri, 20 May 2022

The Companies Office's administration of fees may have saved costs, but the problem is it was against the law.

Markets FREE
Brian Gaynor: legacy of a towering financial figure
Brenda Ward | Fri, 20 May 2022

At his funeral in Auckland, family, friends and colleagues of Brian Gaynor recalled a passionate man who had the confidence and courage to back his sometimes controversial opinions.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.