With Auckland remaining at alert level 4, there has been more updates from the Reserve Bank of NZ. They're proposing an increase in the minimum deposit for owner-occupied houses from 20% to 25%. Banks are also tightening up with their CCCFA policies
(Credit Contracts and Consumer Finance Act) which means it would be a good move to clean up all your debt to be in a better position to borrow money from the bank.

In reality, these things happen and policies tighten and loosen up from season to season. The great thing is that there are and will still be lots of opportunities out there. So don't let the changing numbers get you down.

If you would like more info, please feel free to check us out @ luciaxiao.co.nz

ABOUT LUCIA:
Lucia Xiao is a successful property investment mentor, founder of Finax Mortgages & Insurance and author of Financial Freedom: 5 Steps, 5 Years.
Lucia came to New Zealand from China in the late 90’s and began working life in a poultry shop on eight dollars an hour. From humble beginnings living in a state house, Lucia has now built a $17 million property portfolio in 5 years, and is on track to double this within the next 2 – 3 years.
She's passionate about helping Kiwis realise their financial potential and getting into their own home.

Lucia has also managed a branch, and been an investment advisor, mobile business manager through the GFC and business and commercial insurance manager for a leading NZ bank.