What do the LVR restrictions mean for me?
The RBNZ has restricted how much lending banks can offer that is 'high-LVR'. For an owner occupied property, high-LVR is where the lending is more than 80% of the property value, and for residential investment properties when the lending amount is greater than 60% of the property value. There are exemptions to the LVR restrictions, and at ASB we'll take an overall view of your equity position to help you grow your property portfolio. If you'd like to know more or discuss your position, talk to our home loan investment specialists about your situation on 0800 242 360. For more information of these changes view the full RBNZ guide to borrowing, which provides some helpful FAQs.