Dear all, I’m currently living overseas. I’m having few properties now but all of them are having mortgages in principle + interest way. I’m planning to return NZ in 2 or 3 years. After returning, I want to change all mortgages into “interest” only. Because now each property rent can cover its own mortgage, I can get the more savings if I can change “principle + interest” way into “interest” only. After returning NZ, I wish I could stop working. I think I might survive from the rents and some cash savings.
Do you think banks will allow me to do so? If not, do you think what kinds of conditions or requirements I must meet?
Thank you very much in advance for your advice!
Do you think banks will allow me to do so? If not, do you think what kinds of conditions or requirements I must meet?
Thank you very much in advance for your advice!
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