- emmajane06Member@emmajane06Join Date: 2007Post Count: 38
Does anyone know any lenders in NZ that will lend 95% to overseas borrowers?
Westpac have declined saying the 20% is hard and fast and we just don't have 20%!
I am a NZ citizen living in Australia.
Thanks in advance,
Emmakaz101Participant@kaz101Join Date: 2005Post Count: 45
Is it a cashflow positive property? Just wondering if you could borrow the rest of the money from somewhere else and pay it back from the rental over time?
Is it a new property or would the vendor do a vendor loan?
Regards,kiwishepMember@kiwishepJoin Date: 2007Post Count: 2
I would doubt you would get 95% as an offshore buyer even using a second mortgage.emmajane06Member@emmajane06Join Date: 2007Post Count: 38
I was hoping the fact that I'm an NZ'er living overseas would help but no.
I have managed to secure 90% through a fantastic broker in Chch so I'm happy.
EmmaRobertRajahMember@robertrajahJoin Date: 2005Post Count: 9
I have a two bed room apartment in Nelson St, Auckland. It is on the 12th level in a block of 500 or so units. I paid $195,000 for it about two years ago. I wonder how much it is worth today. Any idea?
I need to refinance the mortgage. How much can I borrow against this and at what rate? Any help will be appreciated.
RobertKiwi-FullaMember@kiwi-fullaJoin Date: 2002Post Count: 371
I have done it before….. While living in Aussie on an NZ purchase 95% …. if you want to contact my broker … she may be able to assist. PM me if you want thier details…..
Tell then I put you onto them and they will take very good care of you!
Its not what you know …. Its who you know!
KiwiAdministratorKeymaster@piadminJoin Date: 2013Post Count: 3,225
The best way to purchase properties overseas is to establish a line of credit against the equity in your home or portfolio that way you will not be restricted by LVR.
Otherwise there are morgage brokers who specialise in securing loans for overseas investors.
Global Buyers Agent
http://www.buyersagent.com.auColleen JeffsParticipant@colleen-jeffsJoin Date: 2007Post Count: 6
I'm new to investing but I had a discussion with my partner today re financing. Before we met he looked into getting a second house using Southern Cross Finance (http://www.scfl.co.nz/) He said they were very open to investors who didn't meet the standard criteria set by other lenders.
Just a thought.
Best of luck