Yes you can borrow against a property in Aus to get a deposit to buy in NZ… However the loan on the property you buy should be in NZ dollars and be done through an Aus company who can lend in NZ or by a NZ company. This way you don’t get hurt by currency movements.

Good luck!

Otto Dargan
Home Loan Manager
Mortgage House Five…[Read more]

Hi Adam,

The 5% rule is great, but if you want to break it down further here is how it usually looks…

Loan application (inc valuation): 600
Legal Disbursements: 150
Registration of mortgage fee: 124 (Gov charge)
Settlement fee: 100
Borrowers solicitor: up to 1500
Mortgage Stamp Duty: $5 + ($4 for every $1000) borrowed over $16,000)
Stamp Duty:…[Read more]

Hi Banner,

I saw some properties out at Wagga Wagga that had a 13% return which is cashflow +, although not very. This was a block of 4 units for $140,000. This is offset by growth of around 2 -3%pa. A few towns had good rentals, Junee I heard was pretty good (they just build a jail there which has increased demand??? or so I heard).

Don’t…[Read more]

Hmmmm. Its rare that a customer (even with 5+ IP) actually knows how the loan is being submitted. Often I have refinanced a loan that was submitted by a different lender that the customer thought was a car loan secured by their car but was infact “Misc investment purposes” secured by their house so that the bank would accept it.
With this in…[Read more]

I’m sticking to my guns!

There are good companies out there! I completely agree that most are shonks. I don’t think anyone can disagree with that!

Its hard to find good ones. Usually the bad ones have an extencive network where everyone is in on the scam. All you need to do is get an independant valuation and all is revealed! The people in…[Read more]

quote:
Thanks for the reply, Dave.
Any idea of a 3rd party company who can does a
quality DD on potential wrapee, short of going for
a realestate agent ?

Thanks
MCW

Why not do it yourself? Look at the application forms for various lenders, they have all the questions that you should be asking the person. The more declarations the better!
Are…[Read more]

Hi Everyone,

Valuers are faced by this problem aren’t they? I did a Real Estate course with Tafe a while back and they had access to a Land Title office database which could spit out ALL the sales for the last 12 months for a suburb or for a “2km radius” from the property selected. I think there is a cost to subscribe to this database. Most…[Read more]

Hey Everyone.

I also work for a major lender and I have seen some good and some bad investment companies. The best way to protect yourself is to get an independant valuation. This costs $200 – $300 and will be written to you with your name on it. This means if you then buy it and find out you got ripped off for $20,000 you can sue the valuer.…[Read more]