A major bank has hit the lending brakes, fearing it will breach its low-deposit lending limit.
Kiwibank has told mortgage advisers that it is unable to accept any new applications for lending over 80% that is restricted by the Reserve Bank’s speed limits.
Banks can only lend 10% of their new loans to people with equity of less than 20%.
It said the bank’s high-LVR lending was sitting above its speed limit target, as it moved into December and January when lending volume was usually lower...MORE»
Friday, November 14th, 9:01AM 1 comment
Property investors with five or more rentals can, temporarily, breath a sigh of relief that their interest rates aren’t about to rise soon.MORE»
Wednesday, November 12th, 11:15AM
Reserve Bank governor Graeme Wheeler, today, dashed hopes that the bank would remove loan-to-value ratio (LVR) lending restrictions any time soon.
Like the BNZ, ANZ has described its results for the 12 months to September 30 as “solid”.MORE»
The Co-operative Bank’s interim injunction against the New Zealand Association of Credit Unions (NZACU) over the union’s decision to change its name to Co-op Money NZ has been rejected by the High Court.MORE»
Home loan rates don’t look like going up anytime soon following today’s official cash rate announcement from the Reserve Bank.MORE»
BNZ chief executive Anthony Healy credits the bank's “strong” performance in the 12 months ending September 30 to a turn around in its lending operations.MORE»
The Reserve Bank has left the OCR unchanged and has given few clues about future movements.MORE»