finance from Oz to NZ

[MobileMortgage]

i heard that it is very hard to get a loan over in NZ for under 80,000

$60K was the figure I had heard. Some banks don't really want anything under that figure. I also heard that one (Westpac, I think) has a 60/60 rule which means that they will only lend 60% for property under $60K.

Rod.

Hi Rod,
30K to 950K max for Aussie investors,
Regards Steven

[RodC]

i heard that it is very hard to get a loan over in NZ for under 80,000

$60K was the figure I had heard. Some banks don't really want anything under that figure. I also heard that one (Westpac, I think) has a 60/60 rule which means that they will only lend 60% for property under $60K.

Rod.

[MobileMortgage]

Re: finance from Oz to NZ

i heard that it is very hard to get a loan over in NZ for under 80,000 is this true and which bank will look at you for this kind of money and does anyone suggest who i could use for Dunedin area??mortgage broker or bank either is fine...thanks in advance

Hi Kristine,
30K is the min and 950K max for aussie investors
Cheers
Steven.

[inzvestor]

Some banks have minimum thresholds.

Try Kiwibank or some of the local banks in the Dunedin area.
If you are still stuck then ask a few estate agents who their clients use for similarly valued proprties.

I am in no way associated with Kiwibank, other than being a taxpayer !!

[Marc]

Hello,

I have not heard this statement before. However, look at our recommended mortgage brokers listing on this web site - there is no mortgage broker for the South Island yet but try anyone of the others and I am sure they can help you - link to the listing below

http://www.propertytalk.co.nz/module...ticle&artid=55

Also have a read of this article that provides questions (about getting a NZ loan) and answers (from the banks).

http://www.propertytalk.co.nz/module...howpage&pid=46

Best Regards

Marc

P.s I am trying lke crazy to get a mortgage broker to help out on the forum but the ones I have contacted (3 so far) don't really have an understanding of the power of a forum as a sales channel!!

[Kristine]

i heard that it is very hard to get a loan over in NZ for under 80,000 is this true and which bank will look at you for this kind of money and does anyone suggest who i could use for Dunedin area??mortgage broker or bank either is fine...thanks in advance