News

Sorry, I have been very busy of late, but meant to send you, Glen and the team a big thank you for making the NZ refinance such a painless process.

Property prices in Auckland continue to skyrocket and it appears that what is considered “affordable” is creeping closer to the $1 million mark.

Banks are expected to be able to lend more to people with small deposits. Banks are allowed to lend up to 10 per cent of their total net new lending on mortgages to people with deposits that are less than a 20 per cent.

Restrictions on banks lending to people with low deposits could be removed by the end of the year.

Since October 2013, banks have been restricted so that no more than 10% of their new mortgages are to borrowers with low deposits.