PHOTO: Property Institute of New Zealand
Property Institute says LVR loosening not fast enough
Property Institute of New Zealand Chief Executive Ashley Church has welcomed news that the Reserve Bank has decided to loosen its Loan-to-value lending rules but says the speed at which the loosening is proposed isn’t nearly fast enough to address the problems that the rules have created.
“While it’s good to see that common sense has finally prevailed – the speed at which the Reserve Bank is proposing to relax the rules means the move will have very little effect.
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