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ANZ tightens servicing for rental property income, will this affect you?
On 10 May, ANZ, one of New Zealand's biggest banks, has announced they would decrease the percentage of rental income they take into consideration when assessing new home loan application from 75 per cent to 65 per cent effective from 13 May, making the first move since the Government's announcement of new housing rules in 2021.
In this episode, we'll help you go through ANZ's announcement on rental income changes, use an example to quantify how your borrowing power may be reduced under ANZ's new rules, and analyse who will be impacted by the new rules, so that you can realize the urgency of applying for a home loan before it's too late.
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Topics Covered:
1. ANZ's rental income changes - 00:51
2. How will ANZ's policy change for rental property income affect your borrowing power? - 03:24
3. Will other banks follow suit and impose new serviceability rules? - 04:24
4. Who will be affected by ANZ's new calculation rules on affordability assessment? - 05:27
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Subscribe To Our Podcast
Make sure you've liked and subscribed to our channel where we upload new content every week!
------------------
Prosperity Finance – here to help
If you would like to get more tailored advice, please feel free to get in touch. We are happy to review your situation and let you know how we can help. Call us at 09 930 8999 or email [email protected] for a chat with one of our mortgage advisors.
As mortgage brokers based in New Zealand, we can help you to achieve your financial goals. No matter you are first home buyer, property investor, or looking for buying a commercial property, or if you are a construction builder or developer, we're here to help.
------------------
If that wasn't enough, you can also connect with us by...
Website: https://prosperityfinance.co.nz/
Youtube: https://www.youtube.com/channel/UC9kryOMVOEZv8dmWGHz0ppA
Linkedin: https://www.linkedin.com/in/conniewang-profinance/
Facebook: https://www.facebook.com/ProsperityFinanceNZ/
Instagram: https://www.instagram.com/prosperityfinance/?hl=en
View all episodes
By Prosperity FinanceOn 10 May, ANZ, one of New Zealand's biggest banks, has announced they would decrease the percentage of rental income they take into consideration when assessing new home loan application from 75 per cent to 65 per cent effective from 13 May, making the first move since the Government's announcement of new housing rules in 2021.
In this episode, we'll help you go through ANZ's announcement on rental income changes, use an example to quantify how your borrowing power may be reduced under ANZ's new rules, and analyse who will be impacted by the new rules, so that you can realize the urgency of applying for a home loan before it's too late.
------------------
Topics Covered:
1. ANZ's rental income changes - 00:51
2. How will ANZ's policy change for rental property income affect your borrowing power? - 03:24
3. Will other banks follow suit and impose new serviceability rules? - 04:24
4. Who will be affected by ANZ's new calculation rules on affordability assessment? - 05:27
------------------
Subscribe To Our Podcast
Make sure you've liked and subscribed to our channel where we upload new content every week!
------------------
Prosperity Finance – here to help
If you would like to get more tailored advice, please feel free to get in touch. We are happy to review your situation and let you know how we can help. Call us at 09 930 8999 or email [email protected] for a chat with one of our mortgage advisors.
As mortgage brokers based in New Zealand, we can help you to achieve your financial goals. No matter you are first home buyer, property investor, or looking for buying a commercial property, or if you are a construction builder or developer, we're here to help.
------------------
If that wasn't enough, you can also connect with us by...
Website: https://prosperityfinance.co.nz/
Youtube: https://www.youtube.com/channel/UC9kryOMVOEZv8dmWGHz0ppA
Linkedin: https://www.linkedin.com/in/conniewang-profinance/
Facebook: https://www.facebook.com/ProsperityFinanceNZ/
Instagram: https://www.instagram.com/prosperityfinance/?hl=en