Briefs: ASB U-turns on LVRs, hit by Jucy collapse 18 February 2021 5:25AM Banking Day staff Briefs, Bank lender, Mortgages, Business lending, CBA CBA’s Kiwi subsidiary ASB appears to have quickly backtracked on requiring a 60 per cent deposit for investor new build loans, telling TMM it “may not have got the balance quite right”. Low interest rates combined with a lack of supply saw the largest annual growth in New Zealand property prices on record. ASB now says its response to the continued high demand for loans went too far, and it will lend to new build investors with lower deposits (reportedly from 15 per cent), helped by tapping into the RBNZ’s Funding for Lending program. It’s not been a great week for ASB. Receivership documents reveal the Jucy car and campervan rental company owed NZ$44 million to the bank when it went into receivership at the end of last year, reports Stuff.