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Low doc loans and servicability

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  • Low doc loans and servicability

    This is my first post on the site. I am impressed with what I have seen so far!
    I am an Australian resident living in Melbourne and have been active in residential property investment for the last 3 years. Currently I have a number of "buy and hold" properties in Australia. My last refinancing transactions have reached the ceiling of serviceability with the banks I am with (Westpac, ANZ, Adelaide Bank, Homeside).
    I am interested in cash flow properties in NZ if I can get loans at 80 - 90% but I need to confirm what finance is available to me before I buy.

    Are low-doc or no-doc loans available to me and who should I talk to who is experienced in this type of financing (where approval is given based on the deal alone)

  • #2
    Haggis,
    You may not require a Low Doc Loan,

    I have Clients here in Australia who received the same response by the Major lenders, But have since gone on to purchase multiple investment properties in NZ,
    Resulting in the rental income from their NZ investments boosting there level of serviceability with the Major lenders back here in Australia,
    Drop me a line or call if you need any help

    Regards
    Steven

    0402483216

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    • #3
      Thanks for your response Steven. Where ar eyou based? I am in Melbourne. I'll send you a private post to follow this up.
      Thanks again
      Haggis

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      • #4
        Low doc loans in NZ are basically restricted to 65% for non resident. Only available at 80% for residents. Agree with previous response may be possible to get main stream finance. Contact me direct and I can advise.
        Terry

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