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A Question for the Mortgage Brokers..

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  • A Question for the Mortgage Brokers..

    Hi

    I was wondering if anyone could help me with a mortgage related question.

    I am an Aussie resident and would like to purchase over in NZ, but would firstly like to know which banks will look at casual wages. My boyfriend earns great money, but unfortunately is a casual, so I would like to know which banks to steer clear of, and which will count it.

    Also, are there particular banks who count a higher % of your rental income - I know these do range quite a bit in Australia.

    Any help or advice would be greatly appreciated

    Happy Investing!

  • #2
    Hello and welcome to Pt!

    I am sure that someone will help you with your question but also have a look at our reports section which contains a database of all professionals such as mortgage brokers, lawyers, accountants etc... who have been recommended by the Pt community.

    Here is the link to the Reports section below - it is also in the Menu on the left hand side as well.

    http://www.propertytalk.co.nz/module...ional_Listings

    Cheers

    Marc
    Free business resources - www.BusinessBlogsHub.com

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    • #3
      Anzion,
      The Australian lenders I deal with for NZ investments will allow 80% of rental income towards serviceability over the loan,

      The percentage of casual income excepted will vary between 50% to 100% depending on the length of employment etc,

      Regards
      Steven

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      • #4
        Most lenders in NZ use 75% of rental income. I know of one at 80%. Casual income can be used if there is a history of it. Eg show last 2 years earnings. You don't state what LVR(lending value) you wish to borrow which will make a difference to securing finance.

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