LVR Rules Getting Easier

Slowly but surely the LVR rules are being watered down and not before time

Low deposit home lending edges up in April
Paul McBeth | Monday May 26, 2014

The proportion of home lending with deposits of less than a fifth of a property’s value edged up in April, a month after the Reserve Bank embarked on lifting interest rates.

About 4.3 percent of new home loans in April were at a loan-to-value ratio of 80 percent or more, up from 3.6 percent in March, according to Reserve Bank figures. Banks loaned $4.67 billion for new mortgages in the month of which $253 million was at an LVR of 80 percent or more and a further $54 million was exempt from the central bank’s restrictions. Excluding exemptions, high LVR mortgage lending made up 5.4 percent of all new loans, up from 4.8 percent in March.

Link:

http://www.nbr.co.nz/article/nz-low-deposit-home-lending-edges-april-bd-156737

Posted in News & Articles | Leave a reply

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>