All Topics / Finance / Finance for New Zealand Properties

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  • Profile photo of MTRMTR
    Participant
    @marisa
    Join Date: 2004
    Post Count: 663
    January 5, 2010 - 3:54 am

    Hi All
    Can anyone tell me how you go about getting finance for property in NZ, I am Australian.

    Thanks, Marisa

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    January 5, 2010 - 5:09 am

    Hi Marisa

    Non of the Australian Retial Banks will offer such a loan from over (even though they own all of the NZ Banks) here but we have done them through a couple of specialised lenders.

    Depends on where you want to buy in NZ as to the LVR.

    Richard Taylor | Australia's leading private lender

    Profile photo of MTRMTR
    Participant
    @marisa
    Join Date: 2004
    Post Count: 663
    January 8, 2010 - 5:07 am

    Hi Richard
    thank you for replying.

    I think it will be difficult for me to get a loan as what I am looking at doing is a JV where we purchase land and transport 2 houses on the property. The land may cost around $100K and 2 houses $80K, not sure how the bank would view this.

    Also, just to make it more complicated I use lo docs in Australia??

    Is this going to be close to impossible? 

    Cheers, Marisa

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    January 8, 2010 - 8:01 am

    Marissa

    Yep certainly is unless you have substantial equity in your Oz properties.

    Richard Taylor | Australia's leading private lender

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