RBNZ plans to relax lending restrictions for home purchases
New Zealand central bank says moves will make borrowing easier for first-time buyers
New Zealand’s central bank plans to lower the lending requirements for homebuyers following a review of its loan-to-value (LTV) ratio settings.
The Reserve Bank of New Zealand said today (October 14) that “easier” LTV settings would give banks more flexibility to lend while increasing credit access for first-time buyers.
From December, banks would be allowed to allocate 25% of their new lending to loans used to purchase owner-occupied properties with LTVs of 80% or above. The RBNZ classifies such
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