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  1. #241
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    Aug 2009
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    Quote Originally Posted by MS1353 View Post
    Hi, Anybody knows the rules about revolving credit with each bank? I heard TSB give only 20% of your mortgage as revovling credit, ANZ give 350K if your LVR is 70% or less. what about ASB, Westpac, BNZ and Kiwi bank?
    There are several variables but as a rule $200k as long as matches LVR rules with each lender.
    www.ilender.co.nz
    Financial Paramedics

  2. #242
    Join Date
    Jul 2017
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    312

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    Resimac eases criteria for investors


    Tuesday 26 May 2020
    Non-bank lender Resimac has eased its credit criteria for investors as it seeks to build market share in New Zealand.
    The non-bank has told advisers that investors will be allowed to borrow up to 80% LVR, providing a boost to buyers during the Covid-crisis.
    The lender previously limited the amount of loans it provided above 70% LVR, as it uses warehouse funding from the main banks.
    Resimac eased its criteria after the Reserve Bank scrapped LVR rules earlier this month



    https://www.landlords.co.nz/article/...-for-investors

  3. #243
    Join Date
    Apr 2009
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    1,009

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    Good to know.

  4. #244
    Join Date
    Aug 2009
    Location
    All of New Zealand
    Posts
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    Quote Originally Posted by Chris W View Post
    Resimac eases criteria for investors

    Tuesday 26 May 2020
    Non-bank lender Resimac has eased its credit criteria for investors as it seeks to build market share in New Zealand.
    The non-bank has told advisers that investors will be allowed to borrow up to 80% LVR, providing a boost to buyers during the Covid-crisis.
    The lender previously limited the amount of loans it provided above 70% LVR, as it uses warehouse funding from the main banks.
    Resimac eased its criteria after the Reserve Bank scrapped LVR rules earlier this month



    https://www.landlords.co.nz/article/...-for-investors
    Resimac are bloody awesome!
    80% LVR investment at under 4% even for Kiwi's and Aussies living in Australia buying here in New Zealand. We are their top introducer in New Zealand and have been for 8 years now.
    www.ilender.co.nz
    Financial Paramedics

  5. #245
    Join Date
    Jul 2017
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    312

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    Quote Originally Posted by brokerman View Post
    Resimac are bloody awesome!
    80% LVR investment at under 4% even for Kiwi's and Aussies living in Australia buying here in New Zealand. We are their top introducer in New Zealand and have been for 8 years now.
    1) So overseas buyers (i.e still living overseas and not relocating to NZ) can get 80% LVR financing in NZ for NZ property?
    2) Does their overseas income count in the credit assessment by Resimac in NZ? The banks in NZ don't allow offshore income.

  6. #246
    Join Date
    Aug 2009
    Location
    All of New Zealand
    Posts
    870

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    Quote Originally Posted by Chris W View Post
    1) So overseas buyers (i.e still living overseas and not relocating to NZ) can get 80% LVR financing in NZ for NZ property?
    2) Does their overseas income count in the credit assessment by Resimac in NZ? The banks in NZ don't allow offshore income.

    This is the major difference between Resimac and a bank. Kiwis and Aussies in Australia get to 80% and Australian income counted. Outside of Australia, 70% and as long as income verified no drama. We have processed 28 since lockdown from Kiwis living in Australia, US, UK, Dubai, Thailand, Japan and China.
    www.ilender.co.nz
    Financial Paramedics


 

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