
Mortgage News
Finance Minister slams ASB move
Tuesday 24th of September 2013
ASB yesterday confirmed it was cancelling existing preapprovals unless borrowers used them by next week.
It said the move was necessary if it was to comply with the new loan-to-value speed limits, introduced from October 1. Banks will have to keep their new lending to borrowers with less than 20% deposit to no more than 10% of their total loans.
English said the bank had months to...
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