UDATE: All five leading retail banks require 40% deposit from property lenders

Thu, 21 Jul 2016

(Updates with BNZ, Kiwibank comment) By Fiona Rotherham July 21 (BusinessDesk) - All five of the country's leading retail banks have acted early to introduce restrictions on lending to property investors as part of the Reserve Bank's bid to slow the heated housing market. The central bank said earlier this week it intends having the new lending restrictions that required property investors to have at least a 40 percent deposit for loans in force by Sept. 1 and asked lenders to comply with the spirit of the new regulations immediately....

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