Hi everyone
I am a new investor to NZ, one of the many Auzzies it seems, wanting to invest in NZ.As I am based in Australia, would it be better to use a Mortgage Broker based in Oz that would be more accessible, or try and source my finance in NZ? I am undecided as to whether the distance would be a problem. Any thoughts on this would be very helpful.
Thanks Teach
Just about to get into P/I in a large way with an aim to early retirement and having fun along the way.
Chris
As mentioned to you I would always use a Oz mortgage broker but in saying that i am slightly biased.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
definitely get someone in nz, they understand the market, something it would be hard for an oz broker to do. its better to get finance in nz for an nz property and its actually quite easy too.
Thanks dohicky for the advice, I have got a few names from the Kiwi forum.
Thanks again. Teach.
Just about to get into P/I in a large way with an aim to early retirement and having fun along the way.
Why not have the best of both worlds, deal in Australia through Alistair Perry who can be contacted on 03 9662 1999 or 0407787313. He can source finace in New Zealand and he also works through one of the best brokers in New Zealand.
It costs you no more to do so.Nigel Kibel
http://www.propertyknowhow.com.au
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Thanks nkibel
It’s a small world, only this morning I was talking to a fellow investor and he asked had I heard of Alister or Cameron Perry.
Thanks for the reply I will get in touch with them.
TeachJust about to get into P/I in a large way with an aim to early retirement and having fun along the way.
many of the Financial insitutions wont lend to PI who are investing in New zealand cos they cant evaulate the property and use it as a guarantee.. i thought the aNZ would lend .. but they cant…and that the same with many others…. directions any one to a Broker who deals with NZ property ?
ANZ in NZ will lend to non-NZ residents, as will most lenders in NZ.
These days most Australian based Mortgage Brokers can arrange NZ finance for Australian investors, the same applies to NZ Brokers, another option is to apply direct to an NZ Bank/lending institution, 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.
Hey there
We recently purchased in Nz, and we went through a broker based in Hamilton. We were advised to do this by our solicitor in NZ as he said that in his experience the australian brokers he had dealt with had taken a long time to get the deal through. Also this particular broker could get us 85% LVR opposed to 3-4 other brokers/lenders who could only do a 80% lend in this particular area.
If you want any more details feel free to PM me.
All the best
Maihi, i live in oz and get 90% lend in nz through http://www.pioneermortgages.co.nz they deal in oz and nz.
We found that getting an NZ broker…. helped us:
– Get a top NZ bank to fund us
– Better interest rates than AUSSIE
– 90% LVR (less of our capital required)
– They negotiated at the last minute to waive all application fees!
– They were fast…. We had already committed to a property and need action fast… and got it in Spades!
-If you want to try them … PM me and I will share their details.
Cheers
KiwiThis guy is really good. Freindly, helpful and most importantly, knows his stuff!
Steve Holbrook
sholbrook @ raywhite . comCheers
Brent Palmer
Real Estate Agent
Nelson, NZWe have financed our three houses in NZ with the National Bank of New Zealand. We have established a good relationship with the manager at our local branch and get a good deal, no fees, good interest rate, and one year’s free insurance on our properties. We simply went into each of the major banks when we were over there this time last year, also visited a mortgage broker but for reasons I can’t explain things just didn’t feel right with them. Maybe we just got lucky with the manager we ended up with but we have had no dramas at all, getting the finance each time was a matter of an email. Of course we had to provide initial income and expenditure details but we found the whole process far more easy going than in Aus.
I’m sure there are heaps of mortgage brokers who will give a great service, but direct dealing with a bank manager has worked for us.
Good luck
JaneMy two bobs for what it is worth….
I was left in a bit of a pickle with my (now ex) Australian broker. I needed finance and very quickly. I was referred to Wizard Homeloans in Hamilton NZ. I appraised him of my situation and with some urgency and creative accounting he had approval for $650K in just four working days. They will also go as high as 90% LVR.
Anyone who wants a contact for the above, pls PM me and I will pass on the details. I don’t have them with me at the moment.
All the best…aussie
(formerly giraffe…New Year, New Nick, New Opportunities)
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