- New Reserve Bank mortgage lending data leaves little doubt that the new investor-targeted LVRs have had a significant impact on bank lending to investors – lending to Auckland landlords dropped by almost 20%.
The Reserve Bank’s new LVRs, which require investors seeking new property loans nationwide to have 40% equity or deposit, were announced back in July.
While they don’t officially come into force until October 1, “in the spirit of” the Reserve Bank’s intentions banks started enforcing them immediately.
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