I was contemplating of purchasing +ve cashflow properties and was wondering 2 ways to go about it:
1) is NZ vendors open to idea of retaining a 20% stake in the property till 80% of the renovated property equates to asking price and discharing the vendor’s stake in the property?
2) is there any Oz bank that can lend against NZ properties? The only reason I ask is due to the high interest rate that NZ bank charges?
Cheers
johnWant to join financial independence before 31 years old, currently 25
Hi John
I have answered a similar question here
https://www.propertyinvesting.com/forum/topic/16479.html
Cheers.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Thats right as Steven said. no OZ bank will lend you for NZ properties. But you can do the loan process from OZ for NZ proeperties and you can 90% LVR also for NZ proeperties.
Cheers
PropertyGuRu [sultan]
Mortgage Consultant
[email protected]
MSN ID: amitash, Yahoo Id: bornguruNZ loan pre approval from OZ in 48 hours
Amit
Would the loan process become easier if I am purchasing property via trust strcuture (incorporated in NZ) and taking out loan in name of trust? Also, can you recommend some reliable accountants in NZ that will assit me in setting up the best structure for purchasing IPs in NZ?
Cheers
johnWant to join financial independence before 31 years old, currently 25
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