Mortgage types

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Jun 28th 2010, 10:32 pm

GoingIn2011

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Mortgage types

In the UK if you want to buy a property for renting out you have to get a Buy-to-let, unless it's just a short term measure.

Is the same true in NZ, and if so what's it called?

Thanks,
GI2011

Jul 4th 2010, 2:13 am

newkiwi

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Re: Mortgage types

Quote:

Originally Posted by GoingIn2011

In the UK if you want to buy a property for renting out you have to get a Buy-to-let, unless it's just a short term measure.

Is the same true in NZ, and if so what's it called?

Thanks,
GI2011

its termed an investment property, and the rules are generally tougher to get get approved in terms of deposit required and income