ASB whacks LVR limits on property investors

Thu, 12 Nov 2020

ASB Bank has got ahead of the curve introducing loan-to-value ratio restrictions on property investors ahead of the Reserve Bank’s planned March deadline.Chief executive Vittoria Shortt said lending has improved markedly since the first covid-19 lockdown in March, and the pandemic hasn’t hit the property market as anticipated.Loan applications are up 70 percent from a year earlier, and while some of that’s first-home buyers, Shortt said there’s also been a rapid rise in investor demand.“If this increase in investor...

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