China | World | Business | Entertainment | Sports | Photos
    Home>> Business

Tightening of New Zealand home loan restrictions postponed

来源: Xinhua 作者: 2015-08-23 13:05:21

  The Reserve Bank of New Zealand (RBNZ) on Friday gave the country's banks an extra month to implement tighter lending restrictions aimed at cooling the overheating housing market in the biggest city of Auckland.

  In May, the RBNZ announced changes to its loan-to-value ratio ( LVR) rules to focus on rental property investors in Auckland, which is home to a quarter of the country's population.

  The change meant that borrowers would generally need a 30- percent deposit for a mortgage loan secured against Auckland rental property.

  The new rules were scheduled to become effective from Oct. 1, but the RBNZ on Friday moved the date back a month to enable banks to adapt their systems, said an RBNZ statement.

  Restrictions on loans to owner occupiers in Auckland would continue to apply, with banks allowed to make up to 10-percent of their new mortgage lending to such borrowers with LVRs exceeding 80 percent.

  Restrictions outside Auckland would be eased from Nov. 1, with banks allowed to make up to 15 percent of new mortgage lending to borrowers with LVRs exceeding 80 percent, regardless of whether the borrowers were owner occupiers or residential property investors.

  RBNZ deputy governor Grant Spencer would expand on the Reserve Bank's view of the property market in a speech on Aug. 24.

  The RBNZ has repeatedly warned that soaring home prices in Auckland are a risk to the country's financial stability, and opposition parties have called for overseas housing investors to be banned from the market.

Keywords:New Zealand,postponed,bank

editor:李雪曼
 China's last gun-toting tribe China's last gun-toting tribe Some 2,500 residents of Basha Miao ethnic village in southwest China continue to preserve the traditional way of life .
Women hold up half the sky, but men own homesWomen hold up half the sky, but men own homes Why do housing prices keep hovering at high levels, if not continuing to soar in Chinese cities?
Chinese Movie Boom in 2016Chinese Movie Boom in 2016 In 2015, China's movie industry witnessed progress in almost every aspect of filmmaking.
China's Urbanization Choice: A Bet on ProsperityChina's Urbanization Choice: A Bet on Prosperity China recently hosted a strategic conference in its contemporary history of urban development of the last three decades.
Commentary: Resumption of China-Japan-South Korea summit conducive to solving Korean Peninsula issue Commentary: Resumption of China-Japan-South Korea summit conducive to solving Korean Peninsula issue The sixth China-Japan-South Korea leaders' meeting started in the South Korean capital of Seoul on Sunday, resuming the trilateral cooperation mechanism after a three-and-a-half-year suspension.
Premier calls for joint efforts to stabilize Korean peninsula Premier calls for joint efforts to stabilize Korean peninsula Premier Li Keqiang urged for joint efforts to stabilize the situation on the Korean peninsula to continue during his meeting with President of the Republic of Korea Park Geun-hye in Seoul on Saturday. 

1 2 3 4 5 6