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News

Title: ASB to stop considering overseas income in mortgage applications where a customer does not hold NZ citizenship or permanent residency

Date: 2016-06-17

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ASB to stop considering overseas income in mortgage applications where a customer does not hold NZ citizenship or permanent residency
ASB has joined its key rivals in tightening lending criteria for overseas house buyers with offshore income.
"Overseas income will no longer be considered in applications where the customer does not hold New Zealand citizenship or permanent residency. Where a customer does hold New Zealand citizenship or permanent residency, we will consider overseas income on a case-by-case basis subject to certain conditions," an ASB spokeswoman told interest.co.nz.
"We continue to consider applications from...

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Title: ANZ's lending changes surprise mortgage advisers

Date: 2016-06-10

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ANZ's lending changes surprise mortgage advisers
ANZ surprised mortgage advisers on Friday when it announced a raft of changes to its lending policy which will make it even harder for property investors.
Banks are tightening their lending criteria making it even more difficult, especially for property investors to get their loans approved.
One, highly experienced Auckland broker described the ANZ’s move as "pretty big changes”.
“ANZ won’t do much lending in Auckland off the back of these changes as they’ll be too tricky to deal with relative to other banks.”
In one change the maximum LVR on...

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Title: Budget unlikely change Reserve Bank views

Date: 2016-06-03

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Budget unlikely to change Reserve Bank views

It’s been described as a no surprises, boring Budget, but what might Budget 2016 mean for interest rates?
Friday, May 27th 2016, 11:49AM
by Miriam Bell
Finance Minister Bill English delivered this year’s Budget yesterday and, while health and education were the big winners in terms of spending, there were few significant new initiatives.
For example, despite intense public focus on Auckland’s housing issues in the lead-up to the Budget, English delivered little in the...

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