LVR restrictions to be reviewed
The Reserve Bank indicated today that they will be reviewing the criteria for relaxing the loan to value (LVR) restrictions.
At the press conference following today’s Monetary Policy Statement, RBNZ Governor Grant Spencer said this would be discussed at the Financial Stability Review on November 29.
When asked whether the housing market had moderated enough for the LVR to be relaxed, Spencer reiterated that this would be assessed at the review stage.
He also said that the bank had been in consultation around the possible introduction of a debt to income (DTI) policy and how they would make it work.
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