LVR rules an opportunity for P2P

Landlords are now required to have 40% deposit to purchase properties. For Auckland buyers, that is an increase from 30%. It is the first time investor-specific restrictions have been in introduced for the rest of New Zealand.

But non-bank lenders, including peer-to-peer platforms and operators such as Resimac, are exempt from the rules.

LendMe is a peer-to-peer platform that specialises in loans secured by a first mortgage.

LendMe director and chief executive Marcus Morrison said the new rules were an opportunity for his organisation.