ANZ and ASB join Westpac in early LVR clamp
ANZ, ASB and Westpac have now pulled the shutters down now on lending to investors over 60% LVR ahead of introduction of new RBNZ rules
www.interest.co.nzHere’s a concise update on ANZ investor lending policy changes as of late May 2026.
Summary
- ANZ has tightened investor lending conditions in response to fiscal measures affecting negative gearing. This includes adjustments to serviceability calculations and eligibility criteria for investment properties, with particular attention to changes post-budget and ongoing policy alignment with other major banks. This aligns with a broader sector shift among Australian lenders reacting to government policy changes around negative gearing.[5]
Key details
- Post-12 May 2026, ANZ’s policy change means investment properties purchased after that date may receive different negative gearing treatment in servicing calculations unless they qualify as new builds. Existing properties acquired before 12 May 2026 retain eligibility. This could reduce borrowing capacity for some investors and alter whether a loan meets the bank’s serviceability test.[1]
- For existing investment properties, refinance applications and new builds may continue to qualify for negative gearing treatment in servicing calculations, but brokers may need to supply additional documentation for ambiguous cases to determine loan structure implications.[1]
- The change is part of a trend among major banks tightening investor lending and adjusting affordability metrics in the wake of government policy shifts and housing market conditions.[5]
Context and related notes
- Similar shifts have appeared in other major Australian banks, which have tightened affordability and negative gearing considerations for investment lending to reflect heightened risk and regulatory expectations.[2][5]
- Prior coverage from 2021 and earlier shows ANZ adjusting rental income considerations as part of serviceability, indicating ongoing, incremental policy evolution rather than a single abrupt change.[2]
What this means for you (practical steps)
- If you’re an investor or advising investors with Australian properties: review any applications submitted after May 12, 2026 to see how negative gearing and serviceability are treated for your property type (new build vs existing). Expect possible changes in borrowing capacity or in whether a loan passes the bank’s lending test.[1]
- For existing properties and new builds, ensure you have documentation ready to establish eligibility for negative gearing treatment in servicing calculations, especially if the property is near the policy cutoffs or involves nuanced structuring.[1]
Would you like me to pull the latest local guidance or help compare ANZ’s changes with another bank’s current investor lending policy? I can also summarize how this might affect a specific scenario (e.g., property type, loan size, or location). Citation: ANZ policy changes and their implications are reported in multiple outlets, including reports dated May 27–27, 2026, noting tightened investor lending and negative gearing considerations.[5][1]