RESIMAC, who are non-bank lenders, have increased their longer term fixed interest rates for HVR (high value ratio) lending.

The change was prompted by growth in demand for loans with less than 20% equity. RESIMAC say major banks seem to be avoiding low equity loans - loans that they are prepared to take on.

The Reserve Bank is currently considering restrictions around high loan-to-value lending growth.

ANZ, BNZ and Kiwibank have all recently lifted their longer term mortgage rates.