RBNZ imposes tougher lending restrictions

Tue, 09 Feb 2021

The Reserve Bank said financial stability risks posed by the hot housing market are worse than it thought, and it's trying to suffocate the fire with tighter lending curbs. Most property investors will need a 30 percent deposit to obtain bank lending from March 1 and a 40 percent deposit from May 1. Most owner-occupiers looking to buy will once again need a 20 percent deposit by March 1.The central bank removed the loan-to-value ratio restrictions in April 2020 to help mitigate the economic impact of the covid-19 pandemic.“We are...

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