Finance

Banks’ high LVR lending sailing closer to RBNZ’s limit

Jenny Ruth
Thu, 30 Jun 2022

Banks’ high LVR lending sailing closer to RBNZ’s limit
ANZ NZ and ASB have had to temporarily pause high LVR lending. (Image: Getty)
Jenny Ruth
Thu, 30 Jun 2022
The banks are sailing much closer to the Reserve Bank of New Zealand’s limit on mortgage lending to those with less than a 20% deposit than they did before RBNZ tightened the restriction last year.So close have ANZ NZ and ASB Bank come, that they’ve had to temporarily suspend such lending.Previously, RBNZ had restricted lending to owner-occupiers with less than a 20% deposit to no more than 20% of each bank’s new lending, but it tightened that to no more than 10% of new lending from Nov 1.Because observing such restrictions ar...

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