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]Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,749
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.
Remember that success comes from doing things differently.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
Success comes from doing things differently
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.
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PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.wilandelMember@wilandelJoin Date: 2003Post Count: 761
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,
The ANZ fixed rates are ok, but their SVR currently at 8.75% is not competitive when compared to other lenders.
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PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Pardon my ignorance, what does SVR stand for ?
As opposed to LVR?
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]NobleoneMember@nobleoneJoin Date: 2004Post Count: 146
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