Reserve Bank

PHOTO: ROSS GIBLIN/STUFF Reserve Bank Governor Adrian Orr said those restrictions had been successful in reducing “more excessive” household mortgage lending.

Anyone who was hoping for looser loan-to-value rules to make it easier to get a mortgage has been disappointed.

Economists had predicted that the Reserve Bank would use its November financial stability report to ease the restrictions.

They currently require banks to lend no more than 20 per cent of new lending to owner-occupier borrowers with a deposit of less than 20 per cent and no more than 5 per cent of lending to investors with deposit or equity of less than 30 per cent.