BNZ follows ANZ and Westpac with foreign house buyer restrictions

Fri, 10 Jun 2016

By Paul McBeth June 10 (BusinessDesk) - Bank of New Zealand has joined ANZ Bank New Zealand and Westpac Banking Corp's local unit in restricting mortgage lending for foreign property buyers, following similar steps by their Australian parents. The local unit of National Australia Bank will no longer recognise foreign income for people who aren't New Zealand or Australian citizens, or hold permanent residency, irrespective of whether they live in New Zealand or not, it said in a statement. The bank will also impose a maximum loan to value...

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