Hello world
I need advice on what my options are with my current situation. Here a the details
PPOR – Brisbane Equity 50k(Au)
Rental – NZ Equity 100k(NZ)
Options i can see.
– Buy another rental in nz with the equity from the rental
– Take equity from nz to Au for PPOR so i pay less interest
and have more $$ for a new house in 1 years time. Can i do this?
I'm sure there's more options and theres some one in Brisbane that could help me based on my situation. I've had a look online but would really love to speak to someone that knows the in's and outs between NZ and AU. Whats best to do and whats not.
Thanks in Advance
Any takers?
Hi Shane
Firstly welcome to the forum and i hope you enjoy your time with us.
I think you need to first establish whether you can actually access the equity in either of the properties
In regard to the Brisbane property is the $50K current equity (difference between Bank valuation & loan balance) because if it is the amount you can access will considerably less.
Realistically lenders will go to a maximum 90% lvr although will need to know what the additional loan will be used for.
In regards to your NZ equity then in the main you are going to be limited to NZ lenders as with 1 exception no Australian lender will take NZ property as security.
I am not au fait with current NZ lending policy but i imagine lenders are just as conservative as they are here in OZ.
I think once you establish whether either option is realistic then you can make a clearer choice which way to go forward.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Richard
Thanks for the reply!
I was just looking at using the equity in the rental. I was just trying to get a feel to see if other investors are bringing the equity(as cash) to Australia to re-invest. Or are they just re-investing in NZ. NZ major banks changed there lending rules to overseas based clients 2-3 years ago. They only lend 80% of the lvr now, which is a big dif to the 95% they were allowing(Stopped a few investors in their tracks).
After a few more hours surfing the net, looks like Australian based investors with NZ IP's are keeping it in NZ. And it seems like Auckland(North shore) is the place to buy. If any one has any ideas on the best place in North shore in invest, don't be shy let us all know LOL. House prices are so $$$$ in Auckland….. and so is the rent, i would hate to be trying to buy my first home there.
Thanks again Richard.
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