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TMM - News

Big banks weigh affordability changes

Friday 26th of March 2021

ANZ chief executive Antonia Watson said this week that the bank's "affordability equations will need to be reviewed" after the Government signalled plans to end the tax deductibility of mortgage interest for landlords.

Many banks take 75% of rental income into account when assessing affordability, and advisers expect that figure will drop if the new rules are implemented as planned.

TMM Online asked the rest of the big four and Kiwibank about their plans. Here's what they said.

BNZ

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