The Reserve Bank is to ease the lending restrictions on home buyers and property investors from January.
In a statement released this morning the central bank said from the start of next year that it would increase the cap on banks from 10 per cent to 15 per cent for new mortgage lending to owner occupiers.
Currently no more than 10 per cent of loans can go to owner occupiers with a deposit of less than 20 per cent. It will also ease the restrictions for investors.
Reported from the NZ Herald 29/11/2017
By: Tamsyn Parker