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  1. #1
    Join Date
    Apr 2010
    Location
    Auckland
    Posts
    308

    Default Mortgage for Expat Moving Back to NZ

    I am a kiwi expat that will be moving back from Canada and looking to buy a house. I will have between a 20%-75% downpayment delending on how much of our savings we need to use for a down payment.

    1) If I dont have a job yet would I be able to get a mortgage?
    2) If I do have a job will i need to be in that job for three months before i could get a mortgage?
    3) Other options?

  2. #2
    Join Date
    Feb 2015
    Posts
    122

    Default

    You will be best to connect with a broker....personally, I doubt you will get a mortgage with no job/regular income.....but maybe there is another way, or a second tier lender may be able to bridge the gap for you depending on the security you have.

  3. #3
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    2,831

    Default

    IMHO

    1 Yes
    2 No
    3 Be tax smart. There is no tax advantage to buying a PPOR, there are many tax advantages to buying an IP vs a PPOR. You can purchase an IP and live in it and enjoy significant tax benefits if you plan ahead. I would recomend purchasing the proiperty in a compnay (ordinary comapny NOT a LAQC) or a trust.

    Good luck

    Cheers
    Spaceman
    Delightfully in need of some Tender Loving Care
    Blessed are those who can give without remembering and take without forgetting
    Some things are not as they seem, nor are they otherwise

  4. #4
    Join Date
    Aug 2009
    Location
    All of New Zealand
    Posts
    844

    Default

    Just saw this, we do heaps of lending for Expats, on hols till Monday send me a message and I'll reply then!
    www.ilender.co.nz
    Financial Paramedics


 

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