As you probably have seen in the news over the last few days, what was supposed to be a ploy to slow down Auckland housing prices will now blanket the whole country.
For Investors • Restrictions for investor lending has been extended nationwide from Auckland exclusively • Banks will now be forced to require a 40 per cent deposit(this was previously 30 per cent) for at least 95 per cent of the loans they make in this area.
For Home buyers • Restrictions for owner-occupier lending has extended again from Auckland to nationwide. • The required deposit level will remain at 20 per cent for at least 90 per cent of bank lending.
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