In recent days we have noticed that the lending credit criteria has been constantly changing, it is changing day by day, hour by hour and who knows if it is going to change minute by minute.
Whether you are an investor or a first home buyer it is important to know what is the latest lending criteria, so that you can avoid any surprises. The recent Loan to value ratio (LVR) regulation introduced late last year has changed the dynamics of lending to investors and overseas buyers. Banks have a certain limits on how much percentage they can lend to investors and first home buyers with high LVR. They are bound by the regulations laid down by Reserve Bank of New Zealand (RBNZ). Banks will have their own strategy to ensure that they are well within those limits set by RBNZ.
Therefore it is important that you have a well informed mortgage adviser by your side who can assist you with your lending needs in this ever changing credit market. So call us to make an appointment to assist you with your home loans.