Two of the country's biggest banks - ASB and ANZ - have now stopped offering new home loans to customers with deposits of less than 20%. ANZ had only reinstated under 20% loans in February after being among a group of the big banks taking time out from low deposit lending last November. Then, in response to a query from interest.co.nz, the ASB responded on Tuesday that it had "temporarily" stopped offering new home loans to customers with an LVR (loan to value ratio) of more than 80%. Westpac, BNZ and Kiwibank say they are all still offering loans for those with those with deposits less than 20%. But other banks contacted say they are still offering high LVR loans - though it's clear this is subject to individual circumstances of customers.

Source: Stuff June 28, 2022 05:37 UTC