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.

 

Next Article

Property hunter

Comments

No comments yet

Most Read

Unity First Home Buyer special 4.15
SBS FirstHome Combo 4.19
ICBC 4.49
Kainga Ora 4.59
ASB Bank 4.65
AIA - Go Home Loans 4.65
ANZ Special 4.65
SBS Bank Special 4.69
TSB Special 4.69
Co-operative Bank - First Home Special 4.69
Nelson Building Society 4.69
China Construction Bank 4.95
Kainga Ora 4.95
ICBC 4.99
Nelson Building Society 5.09
Westpac Special 5.19
Kiwibank Special 5.19
Co-operative Bank - First Home Special 5.19
TSB Special 5.25
ASB Bank 5.25
AIA - Go Home Loans 5.25
SBS Bank Special 5.29
Westpac Special 5.49
SBS Bank Special 5.49
BNZ - Std 5.49
AIA - Go Home Loans 5.59
ASB Bank 5.59
ICBC 5.65
Kiwibank Special 5.69
Kainga Ora 5.69
Co-operative Bank - First Home Special 5.69
Co-operative Bank - Owner Occ 5.79
TSB Special 5.99
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.20
Co-operative Bank - Standard 5.34
Co-operative Bank - Owner Occ 5.34
ICBC 5.39
Kiwibank Special 5.75
Kainga Ora 5.79
TSB Special 5.79
Unity Special 5.79

More Stories

Can the NZ economy grow while house prices stagnate?

Thursday, July 09th 2026

Can the NZ economy grow while house prices stagnate?

The question of whether the New Zealand economy can grow much without a recovery in the housing market remains a live issue.

Thursday, February 19th 2026

RBNZ expects slower house price growth in the current recovery

The Reserve Bank thinks house prices will rise at a much slower pace during the current recovery than they have in past cycles.

Wednesday, January 07th 2026

Queenstown not off the radar for first home buyers

First home buyers are not being deterred by Queenstown’s soaring house prices.

Record levels of first home buyers taking out low deposit loans

Tuesday, December 23rd 2025

Record levels of first home buyers taking out low deposit loans

About half of all first home buyer lending has been done at a less than 20% deposit in recent months.