Can a company buy residential property?

[Mell046]

Hi All,

Does anyone know if it is possible for a UK registered company can obtain a mortgage in NZ and buy a residential property?

I see no issue in a non-NZ company buying residential property but I am unsure about the mortgage/lending/borrowing bit.

I asked a mate in NZ, who asked a NZ broker she knew and he said he didn't know if a foreign company could get a mortgage but probably it was too difficult.

Just wondered if anyone knows if this can be done or if any brokers have come across this before?

Thanks for your help, all advice appreciated..

[absoluteproperty]

Hi All,

Does anyone know if it is possible for a UK registered company can obtain a mortgage in NZ and buy a residential property?

I see no issue in a non-NZ company buying residential property but I am unsure about the mortgage/lending/borrowing bit.

I asked a mate in NZ, who asked a NZ broker she knew and he said he didn't know if a foreign company could get a mortgage but probably it was too difficult.

Just wondered if anyone knows if this can be done or if any brokers have come across this before?

Thanks for your help, all advice appreciated..

Purchase a property yes, my neighbors property is owned by a company located and registered overseas.
Lending, would be unlikely as in the event of default, it would be a much more risky and costly process for a bank to pursue debtors abroad (even in the UK), where company law may work differently and penalties for default (as we saw with the collapse of Lehman Brothers in the US) are very different. You would need to secure lending locally in the UK, register a subsidiary with recognised income in NZ, or pay cash.