ZB

Three major banks curtail mortgage lending to those with less than 20 percent deposits

Author
Newstalk ZB,
Publish Date
Wed, 29 Jun 2022, 6:50pm
Banks come close to exhausting their Reserve Bank-imposed high-risk lending allowances. (Photo / Getty Images)
Banks come close to exhausting their Reserve Bank-imposed high-risk lending allowances. (Photo / Getty Images)

Three major banks curtail mortgage lending to those with less than 20 percent deposits

Author
Newstalk ZB,
Publish Date
Wed, 29 Jun 2022, 6:50pm

ASB and ANZ are both pausing their mortgage lending again for anyone who has less than a 20 percent deposit.

Meanwhile, Westpac is now limiting availability.

The three banks reckon they're coming up against the limits the Reserve Bank has set for them on the amount of high-risk lending they're allowed to do.

NZ Herald Wellington Business Editor Jenée Tibshraeny joined Heather du Plessis-Allan.

LISTEN ABOVE