ASB pushes LVRs for investors to 40%

ASB has slapped an additional 10 percent onto its minimum deposit requirements for housing investors, pushing its loan-to-value requirement from 30 percent to 40 percent with immediate effect.Chief executive officer Vittoria Shortt said the stricter borrowing rules were motivated by concern "continued high levels of investor demand are unsustainable." ASB is following the lead of ANZ Bank which last month said was requiring investors to come up with at least a 40 percent deposit.Both ASB and ANZ initially pushed up their in-...