RBNZ removes LVR (loan-to-value ratio) restrictions for 12 months – Effective tomorrow (1/5/2020) –
This is potentially beneficial for borrowers who have not had their incomes affected by Covid-19.
For existing investment properties – Investors may now be able to borrow more than 70% the value of the property (previously restricted to 70%).
For existing home owners looking to purchase another property, this will mean only requiring a 20% deposit instead of 30%.Feel free to contact me if you have any questions regarding this.
