UPDATE: Three major bank lenders introduce property investor lending restrictions early

Wed, 20 Jul 2016

(Adds ASB move) By Fiona Rotherham July 21 (BusinessDesk) - ASB Bank and ANZ Bank New Zealand have followed Westpac Banking Corp's lead in clamping down on lending to property investors by requiring at least a 40 percent deposit ahead of Reserve Bank restrictions. Westpac made the same move yesterday after the central bank said earlier this week it intends having the new lending restrictions in force by Sept. 1 and asked lenders to comply with the spirit of the new regulations immediately. These regulations extend and expand the deman...

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