Kiwis considering buying a home or investing in property in New Zealand will be closely monitoring the Reserve Bank of New Zealand’s (RBNZ) proposal to introduce debt-to-income (DTI) restrictions. If introduced, DTIs would limit the amount of debt households can take on and cap mortgage lending against a borrower’s income. With the high cost of New Zealand housing, DTIs could effectively slow down the property market and make it harder for average earners to secure a mortgage.
Topics: Debt to Income Ratio, Budgeting, Mortgage Advice
Online shopping means spending money has never been easier. The convenience of never having to leave home to buy everything you need comes at a price though, as it’s just as easy to overspend and end up in debt. The good news is it is possible to break that cycle of overspending and be debt-free. We share a few simple steps to help get you started.
Topics: Debt Consolidation, Debt to Income Ratio, Household Debt, Christmas Debt, Christmas spending, Mortgage Debt, Debt-free
Earlier in June 2017, the Reserve Bank released a consultation paper on setting restrictions that would limit the amount buyers could borrow for their mortgage based on their income. If these measures are deployed, it’s estimated around 2,000 owner-occupiers and 9,000 investors a year would effectively be cut out of the property market. Would this solve New Zealand’s housing problem? Read on to find out more.
Topics: Debt Consolidation, Debt to Income Ratio, new zealand real estate, First Home Buyer
There’s been quite a bit of media hype in New Zealand recently around the possible introduction of restrictions to lending criteria based on a buyer’s income. Called a debt to income ratio, the idea has been floated by the Reserve Bank of New Zealand in order to further address the supply and demand imbalance in our property market. Read on to find out how a debt to income ratio could affect you.
Topics: Mortgages, Debt to Income Ratio, Reserve Bank of New Zealand
