Forums / Property Investing / Overseas Deals / Starting out in Kiwiland

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  • Profile photo of aptamaptam
    Participant
    @aptam
    Join Date: 2004
    Post Count: 61

    Hi All,

    In case this has already been asked – I apologise in advance.

    I was planning on heading over to NZ for a few days holiday in a few months. So its the whole two birds one stone argument ! :)

    What I was hoping to find out was things like:
    – how do you organise finance as an aussie/non resident ?
    – are mortgage brokers as big over there ?
    – does anyone know any good brokers over there ?

    thanks in advance,
    andrew.[cap]

    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,749

    Hi,

    My experience is that there are two ways to go:

    1. Offer Aus property as security AS WELL as NZ property which will allow you to get finance here for property there.

    2. Get finance in NZ for NZ property, but, being an Oz citizen, the LVR may be as low as 60% or 70%.

    If you’re seeking finance then it would be worth putting in an inquiry at http://www.propertyinvesting.com/finance as we have an affiliation with a NZ broker who is highly regarded.

    Cheers,

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    Hi Andrew,
    You can arrange NZ finance from Australia,
    Myself and other Mortgage Brokers in Australia have access to these NZ products,
    The LVR will vary between 80% & 90% depending on lender & rates.

    Regards
    Steven
    Mortgage Broker
    Mobile Mortgage Market

    [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 wilandelwilandel
    Member
    @wilandel
    Join Date: 2003
    Post Count: 761

    Hi Andrew,

    We had very good experiences with dealing directly with a NZ Bank, rather than Mortgage Brokers. We used ANZ if anyone is wondering…

    We found our ANZ Business Manager to be so much more professional, helpful and co-operative than our Australian ANZ Bank Manager! Even the branch staff are more courteous and helpful than over here! NZ banks actually still have customer service!!!!!!!!

    We managed to get 80% LVR on all our properties, except in Tokoroa, where we got 70% LVR.

    We did our dealings primarily over the phone to get pre-approval, but then when we purchased in NZ, I visited the Bank Manager to establish a relationship. I think that helped.

    Good luck with your NZ investing,

    Del

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    The ANZ fixed rates are ok, but their SVR currently at 8.75% is not competitive when compared to other lenders.

    Regards
    Steven
    Mortgage Broker
    Mobile Mortgage Market

    [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 aptamaptam
    Participant
    @aptam
    Join Date: 2004
    Post Count: 61

    Pardon my ignorance, what does SVR stand for ?

    As opposed to LVR?

    Thanks,
    Andrew.

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    Hi Andrew,
    SVR = Standard Variable Rate

    Regards
    Steven

    Mortgage Broker
    Mobile Mortgage Market

    [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 aptamaptam
    Participant
    @aptam
    Join Date: 2004
    Post Count: 61

    Steve,

    if I did choose to borrow in Australia through a broker, will they lend to me in NZD or do I get a loan for AUD and then have to do the conversion myself?

    Andrew.[cap]

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    Hi Andrew,
    The loans are in NZD. Cheers.

    Regards
    Steven
    Mortgage Broker
    Mobile Mortgage Market

    [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 NobleoneNobleone
    Member
    @nobleone
    Join Date: 2004
    Post Count: 146

    Hi Aptam,

    I used this broker for my NZ loands with ANZ…

    Peter Moore, Direct Dial 067590440 email, [email protected]

    No problems getting 80%.

    Cheers, Nobleone. [biggrin]

    “Making mistakes is just another another tool for learning.”

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