Mortgage News

The future of pre-approvals in doubt

Friday 27th of September 2013

ASB’s move hasn’t been copied by any other trading banks which indicates that the company had such a large pipeline of pre-approvals that they became unmanageable under the Reserve Bank’s lending restrictions which come into force next week.

Under the restrictions banks are allowed to write no more than 10% of their loans each month with deposits of less than 20%.

This measure is...

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