July 2016 changes to loan-to-value ratio (LVR) restrictions
We have made changes to the current loan-to-value ratio (LVR) restrictions, following a proposal by the Reserve Bank of New Zealand in July 2016. These will impact new home loans for owner-occupiers and residential property investors.
|Name||Type||Floating^||6 months||1 year||18 months||2 years||3 years||4 years||5 years||7 years|
||Fixed or floating||-%||-%||-%||-%||-%||-%||-%||-%||-%|
For other rates, including low equity interest premium, see other home loan rates.
See our mortgage calculators
Low equity interest rate premium
A low equity interest rate premium will apply to all loans with less than 20% equity (more than 80% Loan to Value Ratio - LVR). For residential property investors, more equity may be required, where Reserve Bank minimum equity restrictions apply. More about LVR
|Loan to Value Ratio||Premium|
|80.01% to 85%||0.35%|
|85.01% to 90%||0.75%|
|90.01% to 95%||1.00%|
Default Interest Rate
A Default Interest Rate may apply if a loan repayment is not made when it is due. The Default Interest Rate is the current interest rate that applies to your loan, plus 2.00% p.a.
HOW MUCH CAN I BORROW?
Work out how much you could borrow based on your current income and expenses.
WHAT WILL MY REPAYMENTS BE?
Finding out what your mortgage repayments will be, can help when budgeting for and choosing a home.
HOW FAST CAN I PAY OFF MY HOME LOAN?
Work out how many years it will take to pay off your home loan, based on your weekly, fortnightly or monthly mortgage repayments.
Talk to an expert
All home loans are subject to our lending criteria (including minimum equity requirements), terms and fees. Interest rates are subject to change. An establishment fee of up to $400 may apply for personal lending (the fee may be different for non-personal lending). Not for business purposes.