Property Investors need 40%
Today the RBNZ released a “consultation paper” about further lending restrictions being applied in attempt to slow down the price increases of the property market.
The majority of Property Investors will soon need a 40% deposit which is to be applied nationwide. The Banks will start implementing this before the proposed start date of 1st September as the finger was wagged with “We expect banks to observe the spirit of the new restrictions in the lead-up to the new policy taking effect.”