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Careful if borrowing over 60%

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  • Careful if borrowing over 60%

    Just a heads for those trying to get around the LVR restrictions with the banks. A ploy being promoted by some is to purchase using say NZCU at 80% and then refinance to a bank in six months using the RBNZ exception of $ for $. This will not work! Banks in the main will not $ for $ swap from a non bank lender (at over 60% for a standalone investment) as in their view the non bank lender is not acting in the spirit of the ruling. Just saying!
    www.ilender.co.nz
    Financial Paramedics

  • #2
    The idea that banks have any regard to the spirit of anything other than profits is laughable.

    Long live the NBDT sector.

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    • #3
      Great information, thank you
      Book a free chat here
      Ross Barnett - Property Accountant

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      • #4
        Originally posted by Perry View Post
        The idea that banks have any regard to the spirit of anything other than profits is laughable.

        Long live the NBDT sector.
        Haha! Have to agree
        www.ilender.co.nz
        Financial Paramedics

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