Latest new lending figures show a considerable lesser amount of new money being lent to Investor buyers. The slowdown seems to have started around May 2016, just before the 40% rule change;
- November 2015 – 30% deposit rule
- July 2016 – 40% deposit rule
First home buyers have been taking a greater share of new lending growth, ever so slightly.
Are the Banks lending less this year?
There seems to be a seasonable type bounce back currently, however last year it seems that new lending growth slowed down after May right until October. It will be interesting to see what might occur this year. It does feel like the banks are getting more responsive with applications and have a real good handle on the new rules – compared to this time last year.
Hamish Patel – mortgage broker. Mobile: 021 625 693, hamish@monline.co.nz
