All Topics / The Treasure Chest / Help, sick of negative NZ loan institutions

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of lifestylelifestyle
    Member
    @lifestyle
    Join Date: 2003
    Post Count: 22
    September 25, 2003 - 3:55 am

    Hi I’, expat kiwi from Christchurch. At th moment my business partner who lives in CHch & I are trying to buy a town house for $182.500 Returning $280.00 rent we have $25,000 NZ to throw at it, we both earn moer than enough to cover 10% dep but baks want 20% obviously to dodge MI but I’m finding this frustrating. Valued at $195000 as well. Sick of the hoops, can any one help.

    Profile photo of susie_langmaid_2susie_langmaid_2
    Member
    @susie_langmaid_2
    Join Date: 2002
    Post Count: 44
    September 25, 2003 - 4:02 am

    [8D]
    Lifestyle,
    Yep, just recently the N.Z. banks have changed their criteria to 20% deposit.
    You might want to contact Wizard(in N.Z. though) they are very helpfull.

    Cheers big Ears!!! Susie.

    Profile photo of muppetmuppet
    Member
    @muppet
    Join Date: 2003
    Post Count: 900
    September 25, 2003 - 5:19 am

    Hi Lifestyle

    Have you tried any mortgage brokers.
    Try Kieran Trass at http://www.mortgagenet.co.nz
    Cairns Lockie at http://www.cairnslockie.co.nz
    Vince Walker at http://www.leverage.co.nz

    Or look at http://www.interest.co.nz which lists all finance institutions in NZ and what their latest interest rates are.

    Regards

    Profile photo of zanis1zanis1
    Member
    @zanis1
    Join Date: 2003
    Post Count: 70
    September 25, 2003 - 5:26 am

    Great links muppet!

    Also try the NZ Mortgage Brokers Association
    at http://www.nzmba.co.nz/

    Hey muppet! Do you recommend those people for a Mortgage Brokers List I am building for my web site?

    marc
    [email protected]

    Profile photo of muppetmuppet
    Member
    @muppet
    Join Date: 2003
    Post Count: 900
    September 25, 2003 - 8:05 am

    Hi Zanis

    Actually I haven’t used any of them but they seem to be very proactive advertising their products.

    I have used two brokers.
    The main one is based in Napier and now works through Mike Pero. email address is paulatmikepero.co.nz
    He has organised about four loans for us.

    The other broker I used was Sue Tierney in Auckland. http://www.mortgagesbydesign.co.nz
    She was the Broker of the Year in 2002.
    Ifound her very approachable.[:)]

    I would recommend the two brokers I have used.

    Regards

    Profile photo of zanis1zanis1
    Member
    @zanis1
    Join Date: 2003
    Post Count: 70
    September 25, 2003 - 8:33 am

    Hmmm… The NZBMA is where I go to locate mortgage brokers.. if they are approved by them then I will use them.

    for example -> Try Kieran Trass at http://www.mortgagenet.co.nz who you recommended is approved by them and displays the NZBMA logo on their main web page.

    Interesting in that I did not see any products that they were selling. Thanks for the observation. I will have a look.

    They also own goodreturns.co.nz

    Best regards

    Marc

    Profile photo of lifestylelifestyle
    Member
    @lifestyle
    Join Date: 2003
    Post Count: 22
    September 25, 2003 - 8:34 am

    Thanks guy’s this site is proving a winner. I’ve been in touch with a broker and thing’s look back on track. I really hate big banks that try to hobble you and keep you down. Power to the people.
    This site is providing more imformation tnan I bet Steve & Dave ever imagined. It’s instant answers. People helping people for nothing, just because they want to help. Well done everyone. Time for a group hug. Ready, Steady, Go.

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