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  1. #1
    Join Date
    Apr 2016
    Posts
    248

    Default Which Banks do offset accounts?

    Which banks provide offset accounts? (not revolving accounts). To have a savings account that is linked with your mortgage but cant be taken away in the bad times

    Also how likely is that the banks will recall revolving accounts or minimize them?

  2. #2

    Default

    ANZ don't do Off set accounts and they tell me they have no plan to do so. BNZ do have off set options

  3. #3

    Default

    BNZ do..........

  4. #4
    Join Date
    Apr 2016
    Posts
    248

    Default

    Do you know if BNZ do IO on home occupied homes?

    Once i find a property i can go with ASB but they want P&I and no offset. Broker recommends them for home as they are harder to deal with later on. Then later go to other banks like BNZ (one of the easier ones?).

    I see the reasoning behind this but going IO and having an offset sounds pretty good to me. Guess it might screw me up in the next few properties though, thoughts?
    Last edited by investorak; 25-01-2017 at 10:04 AM.

  5. #5

    Default

    Email Peter.

    Broker who used to be in the BNZ, will see you right.
    Last edited by Perry; 25-01-2017 at 05:59 PM. Reason: changed to linked e-mail
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  6. #6
    Join Date
    Aug 2009
    Location
    All of New Zealand
    Posts
    754

    Default

    I'd go BNZ and yes they can do Int Only as can Westpac subject to LVR etc.
    www.ilender.co.nz
    Financial Paramedics

  7. #7
    Join Date
    Apr 2016
    Posts
    248

    Default

    Thanks Brokerman, Will BNZ make you pay down existing Investment properties to 40% before they will lend to you?

  8. #8
    Join Date
    Aug 2009
    Location
    All of New Zealand
    Posts
    754

    Default

    Quote Originally Posted by investorak View Post
    Thanks Brokerman, Will BNZ make you pay down existing Investment properties to 40% before they will lend to you?
    If the loans are with another Bank then no.
    www.ilender.co.nz
    Financial Paramedics

  9. #9
    Join Date
    Oct 2013
    Posts
    1,275

  10. #10
    Join Date
    Apr 2016
    Posts
    248

    Default

    Awesome thanks guys. Servicability calculator with Bnz similar to Asb?


 

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