Just a heads up that any non Bank lender who is funded by a Bank will no longer be able to offer 80% standalone investment mortgages. There are still alternatives though outside of Auckland via CU's for example as they not restricted by Reserve Bank diktat or a couple at present in Auckland where the owner occupied is also offered as security.
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Investment mortgages and non Bank Lenders.......
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To be clear - is this both Resimac and Liberty? Are there any major non bank lenders who are not funded by a bank?AAT Accounting Services - Property Specialist - [email protected]
Fixed price fees and quick knowledgeable service for property investors & traders!
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Originally posted by brokerman View PostThere are still alternatives though outside of Auckland via CU's for example as they not restricted by Reserve Bank diktat or a couple at present in Auckland where the owner occupied is also offered as security.My blog. From personal experience.
http://statehousinginnz.wordpress.com/
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Originally posted by sidinz View PostHow does it work if there is little/no lending on the owner occupied?
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Originally posted by Wellington Broker View PostCan still go up to 80% of value with most banksMy blog. From personal experience.
http://statehousinginnz.wordpress.com/
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Originally posted by sidinz View PostI don't think you understood me. I was referring to Brokerman's post about a T2 lender requiring the owner-occupied mortgage as well. So I was wondering what they would say/require when there isn't an owner-occupier mortgage.
Under those circumstances you outlined though there have been options with first tier lenders to go to 80% of property value if there is no mortgage in place. Typically they have defined investor lending on a basis of security held rather than loan purpose.
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