• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Page 1 of 2 1 2 LastLast
Results 1 to 10 of 18
  1. #1
    Join Date
    Mar 2016
    Posts
    367

    Default Refinancing in retirement

    I live of equity (several lines of credit)and rents, how do banks see me with no job but plenty of equity and clipping the ticket on my rents across my portfolio if I want to refinance and buy more property?

  2. #2

    Default

    They would account your income as the cashflow off your assets. Id see a broker to get the best deal from all banks.

  3. #3
    Join Date
    Mar 2018
    Posts
    110

    Default

    Yes, like Roughy, I would be looking at talking with people in the know. Weigh up your options with those who offer a non-biased opinion without vested interest.

  4. #4
    Join Date
    Sep 2008
    Location
    Tauranga
    Posts
    1,537

    Default

    They will put you through their latest invention known as your financial health check. Never mind that you are wealthier than the junior you will deal with, nor that that person has much idea about bugger all when it comes to making money.
    They now have more rules by which to rule you.

    Yep, just been through that and another round tomorrow. Different Bank.

    enjoy . Oh and I found that a broker was as bad as the bankers.

    Why is it, that broke people want to tell wealthy people how to run their lives??

  5. #5
    Join Date
    Mar 2018
    Posts
    110

    Default

    ������ What more can I add! Looove it.

    Just made my day and still chuckling.

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

    Default

    Haha to the above! An option to the OP is Equity Release. Heartland Bank pretty good at these. Mainstream banks have little appetite although a couple of non banks would be keen. All round ability to pay and driver.
    www.ilender.co.nz
    Financial Paramedics

  7. #7
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,880

    Default

    Quote Originally Posted by brokerman View Post
    .....Equity Release......
    Reverse mortgage? IE. sell your home to the bank and let them compound the interest on your money until you have no equity left?

  8. #8
    Join Date
    May 2004
    Posts
    2,901

    Default

    Quote Originally Posted by Keys View Post
    Reverse mortgage? IE. sell your home to the bank and let them compound the interest on your money until you have no equity left?
    Better than leaving the inheritance to the cats home, if there is no family or at least none that need or deserve it. Let the cheque to the undertaker bounce.

  9. #9
    Join Date
    Aug 2009
    Location
    All of New Zealand
    Posts
    870

    Default

    Quote Originally Posted by Keys View Post
    Reverse mortgage? IE. sell your home to the bank and let them compound the interest on your money until you have no equity left?
    Oh please spare the outdated comments around this. Would you rather have someone with a heap of equity sit at home all day and die of boredom or use the equity, which is their money, and have fun? Your comments remind me of rellies scared of losing 'their' inheritance.
    www.ilender.co.nz
    Financial Paramedics

  10. #10
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,880

    Default

    As one who manages property, one who has personally seen the angst of renting by the elderly, one who cares for my parents?

    Yip, happy to have the cheque bounce at the undertaker. Tell me, when will I die?


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. best refinancing deals in wellington right now?
    By ewanpohe in forum Finance, legal and tax (NZ)
    Replies: 6
    Last Post: 08-09-2017, 02:45 AM
  2. Refinancing. Offer through tomorrow
    By CaliAngel in forum Property Investment (NZ)
    Replies: 13
    Last Post: 27-11-2014, 07:44 AM
  3. Refinancing - 1year, 2 year or float?
    By SwissTony in forum Finance, legal and tax (NZ)
    Replies: 11
    Last Post: 28-05-2013, 05:08 PM
  4. Refinancing Options and Interest Rates
    By ithink in forum Finance, legal and tax (NZ)
    Replies: 3
    Last Post: 04-02-2013, 04:17 PM
  5. help about refinancing question home to rental
    By jaybnz in forum Finance, legal and tax (NZ)
    Replies: 10
    Last Post: 01-12-2011, 09:32 AM
  6. Refinancing and do-ups
    By AMR in forum Finance, legal and tax (NZ)
    Replies: 4
    Last Post: 27-11-2009, 08:36 AM
  7. 8 things to do before refinancing
    By Marc in forum Property Investment (USA)
    Replies: 0
    Last Post: 24-04-2009, 01:16 PM
  8. Refinancing for rapid growth 101
    By KevinR in forum Property Investment (NZ)
    Replies: 30
    Last Post: 25-02-2006, 05:10 PM
  9. Taxfree dollars on refinancing?
    By KevinR in forum Property Investment (NZ)
    Replies: 10
    Last Post: 21-02-2006, 03:01 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •