07.10.2008 - New Zealand banks 'rationing' lending for property buyers
From Propertywire.com: Property buyers in New Zealand, especially those who are self employed, are facing an uphill battle to secure a mortgage as lenders tighten their criteria even further. Analysts believe that lenders are moving towards wanting a 20% deposit and it isn't going to get any better in the foreseeable future. Even people with clean credit records who would normally have no problems obtaining a mortgage are being rejected..... Full Article: Source