Property

ASB joins banks restricting foreign buyers

ASB has joined Westpac, BNZ and ANZ in making it tougher for overseas purchasers to get a home loan.

Monday, June 13th 2016

The bank said it had reviewed its lending criteria and was making changes.

"ASB has reviewed its policies concerning the treatment of overseas income in home loan applications," a spokeswoman said.

"Overseas income will no longer be considered in applications where the customer does not hold New Zealand citizenship or permanent residency. Where a customer does hold New Zealand citizenship or permanent residency, we will consider overseas income on a case-by-case basis subject to certain conditions.

"We continue to consider applications from customers without New Zealand citizenship or permanent residency where overseas income does not form part of the application, subject to certain conditions," she said.

It comes after BNZ, ANZ and Westpac moved last week.

 

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
TSB Special 6.75
Westpac Special 6.75
China Construction Bank 6.75
ASB Bank 6.75
ICBC 6.75
AIA - Go Home Loans 6.75
Kiwibank Special 6.79
Co-operative Bank - Owner Occ 6.79
ANZ Special 6.79
ASB Bank 6.39
Westpac Special 6.39
AIA - Go Home Loans 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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