Originally posted by MS1353
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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
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Good to know.Profiting from Property, not People
Want free help on taking your portfolio to the next level?
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Originally posted by Chris W View PostResimac 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
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
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Originally posted by brokerman View PostResimac 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.
2) Does their overseas income count in the credit assessment by Resimac in NZ? The banks in NZ don't allow offshore income.
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Originally posted by Chris W View Post1) 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
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