Dawn chorus: ASB backs down

ASB stops forcing landlords to have 40% deposit for new builds, telling brokers it now only needs 15%; Facebook deleting Australian news to avoid new Australian law forcing it to pay publishers

TLDR: Morena. ASB has backed down from its policy of forcing rental property investors to have a 40% deposit for new builds, telling mortgage brokers last night they now needed just 15%. The Reserve Bank’s LVR rules exempt new builds to encourage lending to increase supply.

“We acknowledge that in trying to do the right thing for Kiwis, and for first ho…