RBNZ Postpones House Loan Curb Rules by One Month to October 1

The Reserve Bank of New Zealand has postponed the implementation of proposed stricter mortgage regulations from September 1 to October 1, as announced in a notice sent out on Friday.

RBNZ Deputy Governor Grant Spencer explained that the decision to push back the start date was in response to requests from banks. They indicated that additional time was needed to comply with the new regulations affecting investor loans nationwide, particularly due to the volume of loan pre-approvals that were completed prior to the announcement made in July. This extension allows banks to properly establish the necessary guidelines.