I was wondering if anyone knows of an Australian bank that will lend money for an IP in NZ.
Or does anyone now of a reputable lending institution in NZ that would lend more than 80% of the purchase price.
Thankyou
ZippyHi Zippy,
I don’t know of an Australian bank that will lend for NZ. A lender will not just lend above 80% to anyone – it depends on certain factors, namely, the location and the valuation. I know a lender that will lend aove 80% but like I said, it depends on those factors. If you want his contact details, PM or email me and I’ll respond with them. He resides in the South of NZ.
Kind Regards,
George.“If You never never ask, you’ll never never know”
As suggested by George try his contact. Most NZ lenders will not lend above 80% as the mtg has to be insured with PMI or the like and they have criteria where you have to be a NZ resident to borrow above 80%. Yes it will depend on location and value but also the strength of you own financial position in relation to assets and income.Contact me direct if u want.
Originally posted by NZ Mortgage Broker:Yes it will depend on location and value but also the strength of you own financial position in relation to assets and income.
Will a NZ lender take into consideration Australian assets (primarily PPoR) when considering a loan application, or only NZ assets?
GP
they take in both for serviceability reasons…but they tend to take the NZ property as security for the loan
“If You never never ask, you’ll never never know”
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