Three of the country's top banks have introduced tough new restrictions on home loans for foreign buyers.

BNZ, Westpac and ANZ say they'll cease lending home loans to foreign buyers, while also bringing in new rules for Kiwi borrowers living overseas.

Hopeful buyers on temporary resident visas will only be accepted if they have both a New Zealand address and a New Zealand-based income.

An ANZ spokesman says the changes are being made to ensure the bank is appropriately positioned in the current housing market, taking into account supply pressure in certain areas.