LVR for NZ Investors

Viewing 9 posts - 1 through 9 (of 9 total)

MarkyMark
Member
@markymark
Join Date: 2003
Post Count: 132
July 21, 2004 - 11:04 pm
For an Aussie investing in NZ (residential), what sort of LVR can one expect? Say from main bank type lenders?
Thanks,
MarkyMark
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
July 21, 2004 - 11:50 pm
80% LVR is standard with the majority of lenders, 90% LVR in some cases,
Regards
Steven
Mortgage Broker
[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIA
PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
westan
Member
@westan
Join Date: 2002
Post Count: 1,950
July 22, 2004 - 12:42 am
Hi steve
i am yet to see a bank give 90%, to australian investors, i’ve heard some give promises but fail to deliver. What have you seen ?
While i’ve got you can i ask are you able to assist with the major Banks for finance ?
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
RodC
Member
@rodc
Join Date: 2002
Post Count: 335
July 22, 2004 - 2:53 am
Yep,
Seems to be 80% or lower (depending on the area) from what I’ve seen.
regards,
Rod.
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
July 22, 2004 - 5:16 am
Hi Westan,
One of my lenders will do a 90% LVR lend with LMI subject to location (Invercargil is ok)[biggrin]
Low Doc finance is also available,
There are Four lenders that I use for non NZ resident lending, ANZ in NZ being one of them,
Regards
Steven
Mortgage Broker
[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIA
PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
wilandel
Member
@wilandel
Join Date: 2003
Post Count: 761
July 22, 2004 - 8:10 am
Hi,
There are some areas that “most” banks will only lend a maximum of 70% LVR.
Some of the main ones off the top of my head are:
Tokoroa,
Taurmanaui
Castlecliff
Gonville
Um, my mind has gone blank, sorry…
I’m sure others can add to the list if you require it.
Regards,
Del
westan
Member
@westan
Join Date: 2002
Post Count: 1,950
July 23, 2004 - 2:34 am
Hi all
yes del
in addition to your list I know ANZ here says 70% to
Ngaruawahia
Waihi
Putaruru
Flaxmere (a suburb of Hastings)
Highbury (suburb of Palmerston North
Castlecliff, Gonville, Aramoho and Wanganui East (suburbs of Wanganui) and
any ex-housing corp securities in Wanganui
these are in the North island
the only ones in the south island are some tiny little towns on the remote West coast (Towns like Greymouth, Hokitika and Westport are OK).
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Nobleone
Member
@nobleone
Join Date: 2004
Post Count: 146
July 23, 2004 - 3:03 am
Hi all,
I recently bought a duplex in Hawera and ANZ offered me 90% on it… I declined the offer as I didn’t want to get into mortgage insurance.
Yes, I’m an another Aussie investing in NZ. [baaa]
Cheers, Barry
westan
Member
@westan
Join Date: 2002
Post Count: 1,950
July 23, 2004 - 3:32 am
Hi barry
just for the record what bank were you dealing with. i know someone else who was offered 90% but when it came to the crunch they only got 80%.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database