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mortgages!
How easy is it to get a mortgage in New Zealand? We are thinking of renting initially, but would like to buy after we have sussed out where we want to live. Any particular criteria for successfully gaining a mortgage? :confused:
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Re: mortagages!
They are called Homeloans and there is plenty of answers on this forum in the last few weeks on the same subject.
Search engine is your friend. Simple answer is speak to the bank either you get one or you dont. |
Re: mortgages!
Originally Posted by SWALLOW2
(Post 5237307)
How easy is it to get a mortgage in New Zealand? We are thinking of renting initially, but would like to buy after we have sussed out where we want to live. Any particular criteria for successfully gaining a mortgage? :confused:
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Re: mortgages!
Originally Posted by SWALLOW2
(Post 5237307)
How easy is it to get a mortgage in New Zealand? We are thinking of renting initially, but would like to buy after we have sussed out where we want to live. Any particular criteria for successfully gaining a mortgage? :confused:
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Re: mortagages!
We have found that if you are applying for anything over 80% of the property value, some banks (e.g. Westpac) want you to prove residency. This can be got around by going to other lenders, however the interest rates offered rise according to the company's perception on your risk.
If you have a fat deposit that takes the load to under 80% then you'll have no worries whatsoever, regardless of your visa status. You can even buy whilst still in the UK, with no visa whatsoever! Seconded regarding how quickly things can be organised too - our purchase was done and dusted in a week. Good luck! |
Re: mortagages!
Originally Posted by Wiz'n'Ton
(Post 5241889)
We have found that if you are applying for anything over 80% of the property value, some banks (e.g. Westpac) want you to prove residency. This can be got around by going to other lenders, however the interest rates offered rise according to the company's perception on your risk.
If you have a fat deposit that takes the load to under 80% then you'll have no worries whatsoever, regardless of your visa status. You can even buy whilst still in the UK, with no visa whatsoever! Seconded regarding how quickly things can be organised too - our purchase was done and dusted in a week. Good luck! Heed the wise words of the mystical people known only as Whiz N Toni :thumbsup: |
Re: mortagages!
Originally Posted by Wiz'n'Ton
(Post 5241889)
We have found that if you are applying for anything over 80% of the property value, some banks (e.g. Westpac) want you to prove residency. This can be got around by going to other lenders, however the interest rates offered rise according to the company's perception on your risk.
If you have a fat deposit that takes the load to under 80% then you'll have no worries whatsoever, regardless of your visa status. You can even buy whilst still in the UK, with no visa whatsoever! Seconded regarding how quickly things can be organised too - our purchase was done and dusted in a week. Good luck! |
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