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Type: Posts; User: brokerman

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  1. Thread: You're Who?

    by brokerman
    Replies
    15
    Views
    917

    Before coming to NZ in 06 my house in West...

    Before coming to NZ in 06 my house in West Sussex, England was started in 1735. In true Kiwi style it was not finished until 1755:D
  2. A couple add a margin similar to the banks and...

    A couple add a margin similar to the banks and one stresses at current floating rate and one at the current pay rate.
  3. with the main banks this is about right. Two non...

    with the main banks this is about right. Two non banks will go off of what is actually being paid though and one at 80% standalone investment 5.09% fix two years. more than the banks yes but at 80%...
  4. I wonder if this applies to the actual rate...

    I wonder if this applies to the actual rate charged at the time of the loan drawn down, ie 3.8% fixed for a year then serviced at 6.3%? Here most lenders go at 7.5% ish being 2% over the floating...
  5. Replies
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    798

    Registered Valuation only as its the only one...

    Registered Valuation only as its the only one worth anything!
  6. I'd say you need to get finance in place first so...

    I'd say you need to get finance in place first so you know the numbers and work from there. We can assist or use another broker who understands the investor market.
    Good luck!
  7. Replies
    10
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    798

    Non banks and Investment loans

    As we all know the dear old RBNZ limit banks to 70% standalone on investment property plus most banks apply a 2% ish margin to stressing other lending on a 25 year P&I basis, this makes servicing a...
  8. In terms of pure equity it's not a simple answer!...

    In terms of pure equity it's not a simple answer!
    As at today it looks like this.
    With a bank maximum loan to value is 70% in each property. The exception is new build which can go to 80%, maybe...
  9. Nothing wrong at all, just make sure the lender...

    Nothing wrong at all, just make sure the lender knows the true position and also the insurer.
  10. Replies
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    829

    Happy Christmas

    .......and may 2019 bring you everything you deserve!
  11. This is a good article and reflects the large...

    This is a good article and reflects the large increase in non bank funding that is happening right now. In Australia banks have tightened even more so resulting in a massive 300% increase in non bank...
  12. My company is probably the largest contributor to...

    My company is probably the largest contributor to non bank lending being top producer for three of the top eight lenders and non bank lending accounting for over 85% of our business.

    A couple of...
  13. Interesting viewpoint!

    Interesting viewpoint!
  14. Agree too, if possible don't have multiple...

    Agree too, if possible don't have multiple property with one bank. However the LVR rules are very clear when refinancing one property away leaving a bank with say one property. Regardless of the...
  15. $ for $ agreed but not if leaving a lender in...

    $ for $ agreed but not if leaving a lender in place on a remaining security. A lot of people fall into this trap!
  16. They will reduce to conform to RBNZ. Worse they...

    They will reduce to conform to RBNZ. Worse they can also refuse to release the security if overall the deal does not service on their calculator even if the lending is with another lender.

    If one...
  17. This! 100% agree

    This! 100% agree
  18. 100% this!

    100% this!
  19. Replies
    8
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    709

    Good luck. I have a good mate with KB in...

    Good luck. I have a good mate with KB in commercial if you need help, cost you a good bottle of Spanish Red!
  20. Replies
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    709

    They certainly charge a fee, 1% is a bit steep...

    They certainly charge a fee, 1% is a bit steep and never upfront.
  21. Replies
    8
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    709

    Hate doom and gloom merchants, they should not be...

    Hate doom and gloom merchants, they should not be in our industry!
    As a practice we never charge an upfront fee and if KB come up with the goods (which I doubt) then that's the risk we take. We...
  22. Cautionary tale, with a happy ending fortunately!

    Yesterday a lady called me in tears as she had just been declined by her bank and had to settle on a new build $1.2m by Friday. She had signed the S&P Agreement 2 years ago and had a pre-approval....
  23. Replies
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    808

    Disclosure to the family is vital here, seen too...

    Disclosure to the family is vital here, seen too many go wrong. Registered Valuation sets the value and any 'discount' off of that should be made known. This stops infighting which can last for...
  24. The 0.45% probably BNZ plus they pay a trail too...

    The 0.45% probably BNZ plus they pay a trail too (0.2% life of loan) so ends up about the same:)
  25. Must be using different banks to me then. Only...

    Must be using different banks to me then. Only thing I can think of is some banks pay say 0.7% up front (pretty average) whilst others pay 0.5% plus a monthly trail commission of say 0.2% for the...
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