RBNZ lifts mortgage lending restrictions for one year
New Zealand's central bank says latest crisis move will not weaken financial resilience
New Zealand’s central bank has removed loan-to-value ratio (LVR) restrictions on housing loans today (April 30) for one year.
“The decision was made to ensure LVR restrictions didn’t have an undue impact on borrowers or lenders as part of the mortgage deferral scheme implemented in response to the Covid-19 pandemic,” the Reserve Bank of New Zealand says.
The RBNZ says that it has lifted LVR limits until May 1, 2021, after which it will review whether to reinstate the restrictions.
The RBNZ
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