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Reserve Bank exempts lending for new construction — 10.12.2013

Reserve Bank exempts lending for new construction Date 10 December 2013 New residential construction loans will now be exempt from the loan-to-value (LVR) restrictions introduced from 1 October, Reserve Bank Deputy Governor Grant Spencer said today. “The Reserve Bank has recently consulted with the building industry and banks on the impact of LVR restrictions on residential construction activity,” Mr Spencer said. “While high LVR construction lending is only around 1 percent of total residential lending, it finances around 12 percent View Details +

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  • About Papamoa, Tauranga

    Papamoa (population 20,100) is situated in the Tauranga District of the Bay of Plenty region on the north eastern coast of the North Island of New Zealand. Papamoa is the largest suburb in Tauranga City.

    Papamoa has miles of white sandy beach stretching from Mount Maunganui in the west to the Kaituna River in the east. Papamoa is now one of the fastest growing areas in New Zealand due to the increase in popularity of coastal communities, close proximity to Tauranga and recent local shopping developments.

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