Hi,
I'm looking at moving back to NZ in approx 12 months.
I already own a house on small acreage (tenanted) and wish to buy the adjacent property that is up for sale (renovators delight, or should I say nightmare!)
I'm not keen on re mortgaging current house unless absolutely necessary and do have a fair deposit to put down. I would live in the new property and the majority of repayments would come from the tenants weekly rent in my old house.
My question is, would I be able to borrow through an NZ bank showing my current earnings here in Oz or would I have to borrow from a bank here to buy the property over there?
Any info gratefully accepted.
I'm looking at moving back to NZ in approx 12 months.
I already own a house on small acreage (tenanted) and wish to buy the adjacent property that is up for sale (renovators delight, or should I say nightmare!)
I'm not keen on re mortgaging current house unless absolutely necessary and do have a fair deposit to put down. I would live in the new property and the majority of repayments would come from the tenants weekly rent in my old house.
My question is, would I be able to borrow through an NZ bank showing my current earnings here in Oz or would I have to borrow from a bank here to buy the property over there?
Any info gratefully accepted.
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