Hi there,
We have been told that banks will not let you access the accumulated equity in NZ property to leverage additional property puirchases.Also, I believe that it is almost impossible to find an OZ bank who will provide finance for a NZ purchase.
Could anyone shed any light on these issues?
Many thanks
Hi alexmmc
Not sure about the first part of your question, but have a talk to PropertyGuRu about finance.
KerwynHi Alex,
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.
Hi Alexmmc,
“We have been told that banks will not let you access the accumulated equity in NZ property to leverage additional property puirchases”
nz has a modern flexible banking system with all the appropriate products to access equity.
regards.
Hi Alexmmc
Banks in NZ do allow you to take out ‘top up’ loans or similar to access the equity in your NZ investments.
I just did this with two properties – and only one week after settling them at finance provided on contract price, i took out a top up loan to access the extra equity in them at valuation figures.
No different to here in Australia – in fact, quicker, easier and simpler!!!
Cheers
CDCastleDreamer
NZ Investor and Property Spotter
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