SYDNEY (Reuters) -New Zealand's central bank on Tuesday said it planned to ease mortgage loan-to-value ratio (LVR) restrictions from December 1.

"Easier LVR settings will give banks more flexibility to lend, improving market efficiency and access to credit, particularly for first home buyers," the Reserve Bank of New Zealand Acting Assistant Governor Angus McGregor said.

(Reporting by Renju Jose in Sydney; Editing by Himani Sarkar)