Hi Matt

Not quiet sure what you are referring to.

If you mean the Vendor is happy to accept a Deposit Bond Guarantee then this would be arranged through an Insurance Company and something your mortgage broker can do for you.

I am hoping you are not cross collateralising the loans with the NAB but it does sound like your are Grrrrrrr.
Otherwise you could just pay the 10% deposit from your investment line of credit secured against the PPOR.

Would need to work interest cost V Deposit Bond Premium to see which worked better from now until settlement.

Hi Marisa

Non of the Australian Retial Banks will offer such a loan from over (even though they own all of the NZ Banks) here but we have done them through a couple of specialised lenders.

Depends on where you want to buy in NZ as to the LVR.

Contract of Sale or Transfer.

Stamp duty will be payable on the Transfer or fair market value but other than that fairly straight forward exercise.

Just get your Solicitor to do up the Transfer documents and then lodge them for stamping.

Of course i am assuming that the property has no loan secured against or is used as security elsewhere.

Sorry can i just ask you why you need 20% deposit.

There are not too many areas where we cant get more than that even with LMI.

No any potential wrappee has to pass a normal loan application check as far as we are concerned. My Business partner normally does the Building Inspection and we go from there.

No i dont mind you asking. I retired at 39 living off my property and other income and after 6 months of being home under my wife's feet she told me to go and get a job and get our of her way. I set up my boutique mortgage broking and Fin planning business and now find i work more hours than ever before and just love helping clients.

Fortunate enough not to have to push a product or have to make a sale can merely go about my day to day business of helping others and also get paid for it. I have 3 children and hopefully 1 of the 3 will get interested in the business and take over when i call it a day for good. Only 46 so still a few years left in the old dog.
 

Ok i read it that it was 1 account with a major although he had other accounts spread elsewhere.

Yes totally agree consolidate your accounts if they are all with the same organisation.

Magic hate to say i disagree with YI.

If you have an existing account with one of the majors (and i am not sure which one) i would keep it going for the time being as having the account could certainly increase the lvr available to you.

This is not to say you have to go that route but definately gives you options if needs be.

Be suprised this is a major regional lender and it is policy.

No not at all just going back 8/9 years a lot of regional lenders werent that sophisticated.

St George who  were the 5th largest Bank in Oz up until the Westpac acquisition only had credit search machines in their Branch offices from 1997.

Prior to that a clients credit record was taken on the word of the borrower. "I have no defaults or other loans….promise"

Looks like it might have changed now

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