All Topics / Finance / Financing New Zealand Property – Australian Reside

Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of toddotoddo
    Member
    @toddo
    Join Date: 2004
    Post Count: 2
    October 12, 2004 - 12:29 am

    anyone have any hints on how to get finance in New Zealand for Australian residents. I have some clients that need some for purchasing and have tapped out my resources. Any help or direction would be much appreciated.

    thanks

    Profile photo of PropertyGuruPropertyGuru
    Participant
    @propertyguru
    Join Date: 2003
    Post Count: 1,502
    October 12, 2004 - 1:36 am

    Hi Toddo,

    You Can get finance from here or you can get loan from NZ banks. I got a lender they give pre approval for NZ in 48 hours.

    Cheers
    PropertyGuRu [sultan]
    Mortgage Consultant
    [email protected]

    NZ loans and pre approval from 7.99%

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    October 12, 2004 - 6:38 am

    Acquiring finance for non NZ residents is certainly a lot easier now than it was 18 months ago,
    Thankfully, there is now a wider choice of lending institutions able to finance non-NZ residents,

    The majority of these are at 80% LVR, minimum loan amounts will vary from $30K to $50K etc, some of these lenders do charge application fees while others have nil application and no ongoing fees,
    Certain lenders require that you must use there panel of valuers, while other lenders will allow you to organize your own valuer, this can be very useful if you have a short unconditional or settlement period and need a valuation carried out at short notice.

    In some cases Aussie investors have traveled to NZ in order to source IP’s and organize finance direct with NZ lending institutions, e.g. ANZ, others have organized conditional approval from Australia prior to departure, this is also particularly useful if you intend to purchase through a buyers agent and it’s a first in gets the deal scenario.

    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of toddotoddo
    Member
    @toddo
    Join Date: 2004
    Post Count: 2
    October 12, 2004 - 8:30 am

    thanks for your help guys.

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950
    October 13, 2004 - 1:02 am

    Hi Toddo

    i can personally recommend both of these guys

    regards westan

    I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database

    Profile photo of agileagile
    Participant
    @agile
    Join Date: 2004
    Post Count: 50
    October 13, 2004 - 1:27 am

    I am new to this so forgive me if this is an old topic.

    I am in the process of buying a NZ property through Westan and Alvin who I cannot recommend highly enough.

    I am using 20% cash deposit on this property to finance this deal through a NZ bank.

    It is my understanding that I cannot use my Australian equity to get 100% financed NZ property loans. This disappoints me as my wife and I have around 200K Australian equity in our Sydney residence and I would very much like to use this equity to finance NZ property.

    Any comments and/or suggestions would be greatly appreciated.

    Also I would like to say a general thank-you to the contributers to these forums whose advice I find, in the main, very helpful and sound.

    Profile photo of Scotty BScotty B
    Member
    @scotty-b
    Join Date: 2004
    Post Count: 44
    October 13, 2004 - 2:13 am

    Hi Agile

    You should be able to access your equity by arranging a LOC, then use these funds to invest in NZ.

    This would however mean you owe money in OZ and NZ on the NZ property and therefore have some exposure to currency changes.

    I live in Karratha and for a fee find quality cash positive deals there, email me at [email protected] to join our database

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 13, 2004 - 2:14 am

    Agile

    You can use your equity by obtaining a LOC on your Australian properties and then using this money as deposits for your NZ property.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of agileagile
    Participant
    @agile
    Join Date: 2004
    Post Count: 50
    October 13, 2004 - 2:21 am

    Thanks guys I will contact my bank today about LOC.

    Kind Regards,
    Tim.[biggrin]

Viewing 9 posts - 1 through 9 (of 9 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.