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ASB to increase the minimum deposit for property investors

Author
Newstalk ZB,
Publish Date
Fri, 13 Nov 2020, 11:59am

ASB to increase the minimum deposit for property investors

Author
Newstalk ZB,
Publish Date
Fri, 13 Nov 2020, 11:59am

It's unclear just how many property investors will be impacted by ASB's move to increase it's minimum deposit rate.

ASB has lifted the deposit required by investors to 30 per cent on the back.

It follows the Reserve Bank's announcement it's considering the re-introduction of loan-to-value restrictions in March.

Property Investors Federation executive officer Sharon Cullwick told Mike Hosking it's good for first home buyers, but would have a flow-on effect ...

"It means tenants will now find it harder to find a place to live." 

Cullwick says 90 per cent of property investors only own one other property besides their own home.

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