Hi
I have recently moved to the goldcoast from Auckland New Zealand, i am very new to the investing game, i have one property in New Zealand that is negativley geared, after reading 0-130 properties in 3.5 years i now have fresh goals for financial freedom.
Does anyone know if there is a way i can access the equity in my property in NZ to purchase property in Aus? i have spoken to brokers and bankS and they all have the same answer which is no, does anyone have any ideas? maybe someone has an oportunity of vendor finance, or has some experience with this.Cheers
Sean
Hi Sean
Must admit i would say NO outright.
Have a couple of lenders that might consider the deal depending on a few factors.
Richard Taylor | Australia's leading private lender
Hi Sean,
The easiest way to do this:
Lets say you have 40% equity in your NZ property. Arrange for the equity to be taken out and draw down the mortgage to have 20% equity instead.
Use the funds for a deposit in Australia. Simple really.
Even better, for the first time in living memory NZ interest rates are at least as good as OZ rates so the finance cost is comparable.
Cheers,
MattHi All,
Just joined yesterday & am just about to get into the property investing game. Can anyone point me in the direction of a good mortgage broker? I'm in Melbourne.
Thanks in advance,
Nick
Cheers Matt
Ill do that, it is very simple. Thanks.
Sean
Hi Nick
Tell us what you are after and possibly we can assist.
I have many forum clients all over Australia and indeed the world so Melbourne isnt that far.
This day and age most loans are lodged electronically so applications and documentation is emailed.
Obviously if you want someone to sit down and chat with I cant help you but anything else more than happy to assist.
Richard Taylor | Australia's leading private lender
Qlds007 wrote:Hi SeanMust admit i would say NO outright.
Have a couple of lenders that might consider the deal depending on a few factors.
Hi Richard
What would those factors be?
Sean
Qlds007 wrote:Hi SeanMust admit i would say NO outright.
Have a couple of lenders that might consider the deal depending on a few factors.
Hi Richard
What would those factors be?
Sean
Hi Sean
Type of security and valuation / total lvr / income and liabilities.
In the main the lender would take your NZ property as well as the Oz property to be purchased as security.
Richard Taylor | Australia's leading private lender
I would recommend these guys for any property investing advise or finance, check out their video presentation http://www.wealthwithproperty.net Cheers Steve
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