High LVR lending slips to 6.5% of new mortgages in July, RBNZ data shows

Tue, 26 Aug 2014

By Jonathan Underhill Aug. 26 (BusinessDesk) - The proportion of home lending with deposits of less than a fifth of a property's value fell in July amid growing evidence mortgage restrictions imposed by the Reserve Bank last year are succeeding in cooling house prices, especially for cheaper properties. High loan-to-value lending by banks, those at a loan-to-value ratio of 80 percent or more, fell to 6.5 percent of total new mortgages in July from 6.7 percent the previous month. The ratio of high-LVR lending was 25 percent last September,...

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