Non-banking lenders for property investment

[Bobsyouruncle]

The fact that a non bank theoretically exists to do what it likes. It can't break the system when it is a minor player.

[brokerman]

The fact that a non bank theoretically exists to do what it likes. It can't break the system when it is a minor player.

Except when it's not onlending Bank funds so there are still alternatives out there!

[Wellington Broker]

Not just first tier lenders impacted by this either. Spoke to Bayside last week who are a third tier lender and they're experiencing the same issues for investors

[deechnz]

ANZ have a great product for purchase off plan, 85% and unconditional offer valid for 12 months. Best I've found so far and non Banks being reigned in at present, just so you know.

Is this ANZ product still offered and does it include build of a new rental property?

Currently my ANZ portfolio is at 74% LVR, so I consider that I'm out of the market until it gets down to 60%. However, if the rule was still 80% LVR, I'd have $900k available to use.

So how exactly does the 85% LVR for new builds work if I was to fund it via equity- would ANZ consider my existing portfolio at 85% for the purpose of the new build (in which case I could build now), or would I still need to wait until my current portfolio gets down to 60% (which will take a long time) and then use the equity to come up with 15% deposit for the new build?

[brokerman]

Is this ANZ product still offered and does it include build of a new rental property?

Currently my ANZ portfolio is at 74% LVR, so I consider that I'm out of the market until it gets down to 60%. However, if the rule was still 80% LVR, I'd have $900k available to use.

So how exactly does the 85% LVR for new builds work if I was to fund it via equity- would ANZ consider my existing portfolio at 85% for the purpose of the new build (in which case I could build now), or would I still need to wait until my current portfolio gets down to 60% (which will take a long time) and then use the equity to come up with 15% deposit for the new build?

Can you PM me your contact details please.