New Zealand Finance Minister Bill English has criticised this week's decision by CBA's ASB to withdraw pre-approvals for high loan to value ratio (LVR) mortgages, saying first home buyers were right to feel let down by the bank.English said ASB should have listened to the Reserve Bank's warnings months ago about its plans to restrict low deposit loans and been more cautious before issuing the pre-approvals."The Reserve Bank was talking about this kind of policy from earlier this year. It looks like ASB weren't really listening," English told reporters in parliament."All of this is a bit tough on first home buyers in the short term," English said."This seems to be the only bank that's got themselves in the position where they're letting down people who they gave approvals to," he said.English said he didn't expect other banks to follow suit."It's pretty tough on first home buyers who had expectations of getting loans," he said."The ones who are caught in this now have an argument with their bank, not with the government. It's their bank that gave them approvals knowing it was quite likely policy was going to change so I suggest those first home buyers who will feel let down take that up with their bank."Meanwhile, new Labour Opposition leader David Cunliffe said his government would exempt first home buyers from the Reserve Bank 'speed limit' on high LVR loans. He said the exemption would apply at least until a Labour proposal to build 100,000 houses in ten years and impose a capital gains tax on second properties started having an effect on house price prices.Elsewhere, a TVNZ opinion poll published late on Tuesday showed 57 per cent of respondents opposed the Reserve Bank's 'speed limit' on high LVR lending, while 38 per cent supported it and 5 per cent said they did not know.