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Reserve Bank to loosen mortgage lending rules
Loan-to-Value (LVR) changes on mortgage lending to be eased.
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The Reserve Bank is loosening Loan-to-Value Ratio (LVR) restrictions from 1 December, making it easier for buyers to secure a mortgage with a smaller deposit.
For owner-occupiers, banks can increase low-deposit lending (over 80% LVR) to 25% of new loans. For investors, lending with an LVR over 70% can rise to 10%. This change follows the introduction of Debt-to-Income (DTI) rules, which remain unchanged, and aims to improve access to credit for Kiwis.
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