Mortgage Advice Please
#1
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Is there anybody in NZ on a work visa/permit who has managed to obtain a mortgage with a less than 20% deposit.The reason I'm asking is that we should be arriving in approx 6 months and getting a bit concerned about this.
please advise as there is no way we could affordthat kind of deposit.
Thanks
Angie
please advise as there is no way we could affordthat kind of deposit.
Thanks
Angie
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#2
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Is there anybody in NZ on a work visa/permit who has managed to obtain a mortgage with a less than 20% deposit.The reason I'm asking is that we should be arriving in approx 6 months and getting a bit concerned about this.
please advise as there is no way we could affordthat kind of deposit.
Thanks
Angie
please advise as there is no way we could affordthat kind of deposit.
Thanks
Angie
Could you not just rent until you get your PR
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Is there a restriction if on a work visa then ? Coz I didn't think there was.
Looking at ASB Bank website you can borrow 95% of a properties valuation.Obtaining a mortgage depends on what your income is and what debt you already have. There will be a maximum amount that you can borrow depending on your earnings .
Add what you would be allowed to borrow together with any money you will be bringing over and it gives you how much you can afford to spend on a house not forgetting you need to buy a vehicle etc..
What range of $$ do you think you are looking at for a house ?
Why not contact ASB , given them details of what your husband will be earning and ask them to tell you what you may be able to borrow .
Looking at ASB Bank website you can borrow 95% of a properties valuation.Obtaining a mortgage depends on what your income is and what debt you already have. There will be a maximum amount that you can borrow depending on your earnings .
Add what you would be allowed to borrow together with any money you will be bringing over and it gives you how much you can afford to spend on a house not forgetting you need to buy a vehicle etc..
What range of $$ do you think you are looking at for a house ?
Why not contact ASB , given them details of what your husband will be earning and ask them to tell you what you may be able to borrow .
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Another one to look at is National. They have a whole section for migrants try this
http://www.nationalbank.co.nz/person...lfemployed.htm
http://www.nationalbank.co.nz/person...lfemployed.htm
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#6
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Luckily we dont have a mortgage here but if we did I would reccomend a fixed 3 yr one for starters as the floating ones vary so much and may go sky high soon .Get a good mortgage broker to help you they ge tpaid commision so look for the best for you .
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