BNZ has joined ASB and ANZ in moving to introduce loan value restrictions on investor lending, ahead of new Reserve Bank rules due in March.
BNZ announced today it was returning to its pre-Covid-19 home lending loan-to-value (LVR) ratio settings for property investors.
This means that from the 7th of December 2020, BNZ will require a minimum 30 per cent deposit from residential property investors.
That means all four major banks now have their investor lending policies back to where they were pre-Covid, when Reserve Bank restrictions were still in place.
On November 11 the Reserve Bank said it would consult on bringing loan to value ratio restrictions back from March 1.