Hi there,
I am a new Kiwi property investor. Recent information I received from major lenders (banks) here in NZ is that as soon as I get more than three investment proerties, they class it as a busines and I can no longer access 90% financing. Instead they are telling me that they will only provide me with 60% financing.
Any solutions? Any other Kiwi investors with ideas and solutions would also be appreciated.
Cheers
GB
PS – My first ever posting
]Holy Cow. Your Kiwi banks are strict.[V]
Have you tried more than one bank? I would get in touch with a broker or two in NZ and ask them if that’s the policy from all lenders, or just the one you are talking to. If all your loans are with the one bank, perhaps you have hit your ‘limit’ with them, and it’s time to try a new bank for the next loan anyway?
Cheers
MelHi GB, Welcome to forum!
I know about Australian buyers can buy more than 3 property in NZ after putting just 20% so why not you? Better check with other banks also.
Cheers
[]
PropertyGuRu
I want to be billionaire! [] your not looking at commercial are you?
NEO
NICE ONE BRUVA!! Nice One Bruv! nice one
Thanks for the responses… I will do some more research and let you know how I get on.
Cheeers
GB
There probably is a time limit in terms of the time between the purchase of the three properties otherwise there would be quite a few property investment business – there is a similar criteria here but you have to making enough money to call it a business
cheers,
bluecatDo today what you want to do tomorrow
]
] 
You must be logged in to reply to this topic. If you don't have an account, you can register here.
