millertime

Hi there

We have been looking ahead (way ahead...but you gotta dream!) at house buying in NZ. Been checking out buying a plot and then having a house built which looks good!
Anyway! We have sold our property here in the UK and would like to reinvest our profit. Not looking for exact figures but if anyone out there recently bought would just like an idea.
We are looking at propertys at max $300,000 and would put down a $100,000 deposit. What kind of monthly payments would we be looking at and which bank would you advise for a mortgage?

Cheers! Back off to my daydreaming now!

Roger

Try www.interest.co.nz It gives the current rates for banks etc. You maybe able to tinker and find a suitable calculator for your payments.

Also try www.moneyonline.co.nz

Must say I don't find the Kiwi sites as good as the UK ones.

Roger

Gra.B

National Bank come recommended, can't remember by who, but think a few have..

http://www.nationalbank.co.nz/person.../residents.htm

That link will take you to the new residents section, they have cost calculators to play around with.

Gra..

The Simpsons

I often use the mortgage calculator link on realenz.co.nz. This will give you repayment amounts etc at whatever interest rate you key in. Quite useful!

Ben.M

If you want to speak to a mortgage agent, I've had dealings with Niki Olds from Mortgage Express and can recommend her. Current rates and mortgage calculator on her site.

Ben

Flyboy

Rough estimate for a $200,000 mortgage would be about $400/week repayments - most things are worked out weekly rather than monthly here - do check out the links reccomended above as they are all pretty good (and better than my rough guess!)

Kiwipaul

I've got a $NZ210,000 interest only mortage with National bank at the moment and pay about $1200-1300 per month. Interest rates are falling at the moment so could be below $1200 next payment.

millertime

Thank you all! Plenty for me to go off and look at now. Will be nice to see what mortgage repayments will be.