Hi we are looking to invest in NZ and doing our initial due diligence at the moment. We have read some of the posts in this forum and it has been helpful with some queries we had.
We would like to know the type of finance that people have managed to obtain in New Zealand? We would prefer to take finance from a New Zealand institution and we would be grateful if people wouldn’t mind sharing the interest rates, offset abilities, LVR and fees, of their finance there?
I have also read some views on the over valuation of the NZ dollar. Any one has anything to share on that point? I suppose if you buy and hold it wouldn’t be too bad.
Cheers
SLI suggest you speak with Alistair Perry who has his own company. Infact his family company are one of the largest lown planning companies in Victoria. He fully understands investor finance. He has organized finace for some of my clients in New Zealand. I do not ask or recieve a referral fee from him. I deal with him because he is good. You CAN CONTACT HIM ON 03 9662 1999 OR MOBILE 0407 787313
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand The United States Property Researcher and education
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If you can finance outside of NZ it would be better as NZ now has the highest interst rates in the developed western world
when the going gets weird the weird turn pro
Hi Kiwiduvet,
What sort of intrest rate are you looking at over there at the moment.Both fixed & variable.
Regards,
PeteOriginally posted by kiwiduvet:If you can finance outside of NZ it would be better as NZ now has the highest interst rates in the developed western world
Hey there…
This is all good however most offsore lenders will only back upto 80% ….. so if you come fro mthe school of the less money I have tied up in the deal the better … then you can get NZ onf shore lenderes that will give you 90% and you pay around 7.95%… however you have lenders here in Aus that are keen but only to the tune of 80% LVR and interest rate is 9.75% …
Although I do not mind interest rates much as long as the return is good enough to come out cashflow positive!!
Cheers
Kiwi[baaa]Most of the Ausralian lenders we deal with will lend upto 90% LVR.
Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
I am fairly new to NZ investing but have purchased 3 properties. I have used NZ finance using a morgage broker. His name is Terry Meredith and he is fantastic to deal with. The loans have all been through the ASB bank , The present rate as of last week is 7.95% fixed for 5 years. All loans required a 20% deposit. All my contact with Terry has been via email and his email address is [email protected]
Best of luck with your investingKiwi bank is doing 7.7 for 3 years. Best to source the funds in nz imo.
D&L Property Projects Ltd
Sourcing Quality Investments in New Zealand.Email to receive current deals & New Zealand Information Sheet.
[email protected]Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
hi wrogers17206
what a great ad for Terry
but since he organised all your loans through ASB bank,
why would you go through him?is the coffee that good?
wouldn’t you be better off going direct to ASB , and just asking for the same deal minus the .8% he gets as commision?????
just trying to save money
Thanks so much guys, its good to have an insight as to the type of interest rates and deals people are obtaining.
It appears that a number of people are going for the fixed 3 or 5 years loans, for around the 7% mark. What about the standard variable loans?
Hi SL
try this http://www.goodreturns.co.nz/section/200.html
regards,
Don
D&L Property Projects Ltd
Sourcing Quality Investments in New Zealand.Email to receive current deals & New Zealand Information Sheet.
[email protected]Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
hb,
You seem to have a couple of misconceptions about using brokers. Firstly, you would not be able to get a better deal going through a bank as this incurs more administrative expenses for the bank. The commission paid to the broker is offset by the saving of these administrative expenses. Secondly, the third party banking departments of the banks are often very aggressive so it is actually often possible to obtain a better rate using a broker than if you went directly to a bank.
Kind Regards,
Cameron Perry
Finance Consultant
Perry Financial Strategies.
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044Sorry cameron
just a cynic…let me explainlast weekends financial review “investor page”
there’s Marina Bakic….
buys a franchise from mortgage choice, and gets it up and running almost straight away….wow..this girls got go
and whats her experience….NON
let me quote….”i had no background in finance at all”
and…”it’ll take another 6 months before she’s back to her six- figure salary, she earned as a regional manager of a Fitness First””Now cameron, i’m sure you don’t fit that category…
but ASIC is aware that NOT ALL people in the mortgagee industry are that qualified to provide advice…and therefore have issued advice to consumersps….i have never used a broker, so have no personal experience, but when a broker got one of my staff into a “interest only loan” on his PPOR…i hit the roof…
and can i say, what your say about negotiating with the bank is a load of cr…..
No…..i have no misconception at allHi SL,
We have a number of properties in NZ, all of which we’ve financed within NZ. Typical LVR offered to oversear investors is 80% until you get a number of properties under your belt – then the banks tend to push back to 70%. We’ve been able to get better deals (and better relationships!) by dealing direct with the bank rather than brokers.
In our experience, banks in NZ don’t offer offset accounts (we got a few blank stares when we asked about this originally). Not sure if anyone else has found one that does? So if you specifically want an offset facility, you’ll probably need to raise the finance here in Oz (and potentially provide Australian security – banks over here typically won’t accept an overseas asset as security).
Good luck with the NZ investments!!
Cheers,
Simon[baaa]
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