House builders hurt by looming RBNZ mortgage lending restrictions, seek exemptions

Fri, 27 Sep 2013

By Tina Morrison Sept. 27 (BusinessDesk) – House builders may be hurt by Reserve Bank mortgage lending restrictions which take effect next week and the nation’s building lobby group wants new home construction to be excluded from the rules. Building companies that specialise in the low-deposit new home market have lost potential clients, with some having to lay off staff and restructure their operations ahead of the change, Warwick Quinn, chief executive of the Registered Master Builders Federation, said in a statement. Restricting the supp...

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