Mortgage News

Carve out of new builds not a back-down: Wheeler

Friday 13th of December 2013

“I wouldn’t call it a back down,” RBNZ governor Graeme Wheeler said yesterday.

He says when the bank established its lending restrictions it “wanted to try and keep (them) as simple as possible.”

Part of the reason for this was to avoid any distortions and unintended effects.

Overall there are $4.5 billion of home loans a month and high LVR constructions loans only make up...

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