Bank agrees to revisit LVR if data shows up problem
By Adam BennettOct 25, 2013
The Reserve Bank yesterday confirmed it has agreed to re-examine its new mortgage lending restrictions if data shows they are crimping the supply of new homes
The bank’s confirmation comes after it emerged the bank, the Master Builders Federation and building industry group Branz are working to assess the impact of new high loan-to-value ratio (LVR) restrictions which came in this month on those who are borrowing to build new homes.
Documents released yesterday by the bank, Treasury and the Ministry of Business Innovation and Employment showed the potential impact on the supply of new homes was considered but not thought to be a problem.
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