Video will play in Play now Don't auto playNever auto playGetting a home loan may get more difficult and more expensive in the next year unless banks are able to raise more money from the local market, says ANZ chief executive David Hisco. Deposits from local savers are failing to keep pace with the amount of mortgage lending banks need to do as the cost of buying a house surges. This, along with the introduction of the Reserve Bank's more aggressive loan to value ratios, was having a cooling effect on the market, he said. "We need local deposits. So I think we've seen a cooling in that side of the market and that's a good thing," Hisco said.

Source: New Zealand Herald November 27, 2016 02:10 UTC