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  1. #1
    Join Date
    Mar 2008
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    Default 40% deposit requirement - what is exempt?

    Hamish Patel | ph: 09 625 4693 | mob: 021 625 693
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  2. #2
    Join Date
    Mar 2013
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    Default

    What about loans that are not new lending, but are transferred? I'm thinking of the situation where an investor disposes of a property and transfers the fixed loan to a new purchase.
    It's a new purchase, but technically isn't new lending. Where does this stand?
    My blog. From personal experience.
    http://statehousinginnz.wordpress.com/

  3. #3

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    Quote Originally Posted by sidinz View Post
    What about loans that are not new lending, but are transferred? I'm thinking of the situation where an investor disposes of a property and transfers the fixed loan to a new purchase.
    It's a new purchase, but technically isn't new lending. Where does this stand?
    Currently ANZ bank is saying any changes will allow them to review lending and expectation is that they want people to achieve 60% LVR... i think Bob said it well in a post earlier - lay low and avoid discussions with the bank at this point unless you're prepared to get to 60% LVR on your portfolio.

  4. #4
    Join Date
    Apr 2016
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    2,343

    Default

    Interestingly I now have 2 non banks offering 80% with pretty good rates.

  5. #5

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    Which ones?

    AFAIK exempt is new construction, PPOR and of course anyone borrowing from the multitude of other on-shore and offshore lenders.

  6. #6
    Join Date
    Apr 2016
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    Default

    My understanding is the non banks are not bound by the new rules, they all can do whatever they like. Resimac, first mortgage, NZ home loans etc.

  7. #7
    Join Date
    Jun 2004
    Posts
    9,607

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    Quote Originally Posted by Bobsyouruncle View Post
    My understanding is the non banks are not bound by the new rules, they all can do whatever they like. Resimac, first mortgage, NZ home loans etc.
    That is correct - RBNZ regulates banks and these rules are made for them to follow.

  8. #8
    Join Date
    Mar 2008
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    Auckland Wide
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    Default

    Hamish Patel | ph: 09 625 4693 | mob: 021 625 693
    My Website
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  9. #9

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    That is right! My comprehension is the non-banks are not bound by the new standards, they all can do whatever they like. Many Thanks.


 

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