ANZ and ASB join Westpac in early LVR clamp
ANZ, ASB and Westpac have now pulled the shutters down now on lending to investors over 60% LVR ahead of introduction of new RBNZ rules
www.interest.co.nzHere’s the latest I can share based on current reporting.
Core update
- ANZ has tightened its investor lending policy in the wake of housing reforms and shifting risk appetite. The change commonly cited is a more conservative treatment of income and gearing in servicing assessments, which reduces the amount investors can borrow on new property purchases. This aligns ANZ with moves from other major lenders aiming to curb investor lending amid policy shifts.[1][5][10]
Key details from the latest reports
- New build vs existing property treatment: Post-12 May 2026 changes reportedly differentiate between new builds and existing investment properties in terms of negative gearing treatment within servicing calculations. Existing properties acquired before the cutoff retain eligibility, while some new-build scenarios become more scrutinized or restricted, impacting borrowing capacity for those applications.[1]
- Serviceability adjustments: The changes typically involve adjusting how rental income and other income sources are factored into servicing calculations, which can lower loan amounts approved for investors depending on property type and lender criteria.[5][1]
- Timing and scope: The literature suggests banks are implementing policy updates in response to policy announcements and market conditions, with several lenders moving in parallel. ANZ’s move has been described as aligning with broader regulatory expectations and market risk management practices.[10][5]
What this could mean for you (practical implications)
- If you’re an investor, expect possible reductions in the borrowing capacity for new investments, particularly for properties not classified as “new builds” under ANZ’s criteria. If you already own qualifying properties, those existing loans may retain eligibility under the updated framework.[1]
- For new applications, you may need to provide additional documentation and rely more on the precise structuring of the loan (property type, mortgage purpose, and portfolio composition) to maximize the likelihood of approval.[1]
- Consider evaluating the impact on your serviceability calculations using current ANZ guidelines or speaking with a broker to understand whether refis on existing, eligible properties remain favorable under the new rules.[10]
Would you like a concise briefing tailored to your situation (e.g., current portfolio mix, planned purchases, and location)? I can outline expected borrowing ranges and a checklist for preparing a compliant application, with citations to the latest reports.