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Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of Rachel77Rachel77
    Member
    @rachel77
    Join Date: 2004
    Post Count: 50
    April 21, 2004 - 4:28 am

    Hi,

    This is probably a stupid question but here goes anyway…Do Australian brokers have finance info for investing in NZ? I am an Australian Investor thinking about buying IP’s in NZ. Can I speak with a broler here about that or do I have to call banks in NZ?

    Thanks,

    Rachel[withstupid]

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    April 21, 2004 - 5:32 am

    Hi Rachel,
    I have a couple of lenders here in Australia who will finance NZ investment property,
    Max LVR is 80%
    intrest rates range from 7.10% to 7.25%

    There are NZ based Banks/lenders, ANZ, Westpac, etc who will also lend to non NZ residents,
    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:1800 820 500
    Victoria

    PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.

    Profile photo of Rachel77Rachel77
    Member
    @rachel77
    Join Date: 2004
    Post Count: 50
    April 22, 2004 - 6:04 am

    Thanks Steven,

    Are those interest rates you mentioned fixed or variable? Do you think I would be better off sourcing the finance from the kiwi banks myself…ie better deals.

    Rachel.

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    April 22, 2004 - 6:43 am

    Hi Rachel,
    The OZ rates are variable,
    Here is a link to NZ property talk,
    http://www.propertytalk.co.nz/
    On this page left hand side near the bottom is a live data feed of NZ lenders interest rates,
    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:1800 820 500
    Victoria

    PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.

    Profile photo of PursefattenerPursefattener
    Member
    @pursefattener
    Join Date: 2004
    Post Count: 217
    April 23, 2004 - 10:57 am

    Hi Rachel

    I am in a similar position at present . I have equity in my properties here in Warrnambool which I want to access for a purchase in NZ.

    I had a talk to my banker recently (CBA) and I have a pre approval however they will not accept the NZ property as security.I think this is satisfactory.

    I am wary of brokers as I have been jerked around a bit in the past.Where in NZ are you looking?

    regards
    Shawn

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    April 24, 2004 - 3:47 am

    Shawn,
    You cannot use Australian property as security over a NZ purchase,
    However you can use NZ property as security, hence the 80% Max LVR,

    80% of the proposed rental income on NZ property can be included when calculating serviceability for a NZ investment loan,

    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:1800 820 500
    Victoria

    PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.

Viewing 6 posts - 1 through 6 (of 6 total)

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