DTI restrictions will be introduced, and LVRs eased from July 1st.

Written By Kim Manunui

After a consultation process conducted by the Reserve Bank ( RBNZ ) it has this week been announced that DTI’s will be introduced and LVR’s to be eased from 1st July

In a nutshell this takes your annual gross household income from all sources and times it by 6 for residential owner occupied or 7 for residential investment less any other lending in place to give you a maximum amount of debt compared to gross income. So for example –

For every $100k of gross household income you can have $600k of lending for residential owner occupied purposes so if you had for example a $20,000 car loan and a $5,000 credit card limit you could have a $575k mortgage on an owner occupied home giving you a total $600k of lending.

Banks can have a portion of new lending of up to 20% of their total lending over the stated thresholds.

Some exemptions apply such as refinancing, construction, bridging and Kainga Ora loans.

For full explanation include video presentation and full list of exemptions, click the link to the Reserve Bank website https://www.rbnz.govt.nz/education/explainers/dti

Kim Manunui

Hi, I’m Kim and I work with a great team to help individuals, as well as small and not so small businesses get their message, product and services to the world using digital media and creating wonderful websites that don’t cost the earth.

I was born in Canada, and grew up around Vancouver and the mountains of British Columbia. My love of pristine environments led me to New Zealand and eventually to the mountains, lakes and rivers of the central North Island which is home. My family’s heritage is here, and it’s from here that Korio traverses the planet.

The digital world is never static and neither are we.

And I say ‘we’ because I work with an awesome group of talented people who I gather together as required to complete a project.  Whatever your business, not-for-profit or individual needs are we gather the best team to get the job done.

Collaboratively we are creative, share sustainable values and work hard for great outcomes because that’s the buzz of satisfaction that drives us.

If you have an audience and market to reach, we can make that happen. Creative design, words that work and smart behind the scenes stuff that cuts through the online noise. We’ll design your website and then build it. We’ll manage the content as well as all your hosting needs. We can handle your online advertising so you get noticed,
and we’ll manage your social media presence so you get the clicks, likes and engagement to grow your business. All within the budget you set, because none of this needs to cost the earth.  And the job doesn’t stop when your website goes live. We are your virtual business partner.

https://www.korio.co.nz
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