The Reserve Bank is deferring the start of the proposed changes to investor loan-to-value restrictions (LVRs) nationwide from 1 September to 1 October 2016, based on feedback from the banking industry from its recent consultation on the proposals.
RESIMAC has done its first white label distribution deal offering home loans to financial advisers through Wellington-based firm Grosvenor Financial Services.
Growth in its lending book has helped ASB report a sixth-straight annual profit increase while net interest margins have been squeezed.
RESIMAC says it will continue lending up to 80% but it is making some changes to its products and pricing to help manage the mix of owner-occupied lending and property investment loans.
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Today's Official Cash Rate cut is like the Clayton's cut, the one you are having when you're not having a cut. The RBNZ brought the OCR down 25 points; ANZ has only passed on a fifth of this. Expect others to follow suit.