Lending Criteria for Overseas Buyers

Posted on Tuesday, March 4 2014

Broadly speaking foreigners can borrow up to 70% on residential investment property and 65% for commercial property.

Australian residents can borrow up to 90% for residential properties.

If you are a Kiwi living overseas then we can get some lenders up to 90% if you’re in Australia, and often 80% if you’re living in the States or the UK.

You can settle property in NZ without ever coming here. The main thing is we need to verify your ID at the nearest NZ embassy or consulate and you will need to use two lawyers – one in NZ for the conveyancing and one in your home country to witness the loan documents.

By J.B

 

 

 

Publisher Comment: Join us on Google+

 

Comments are closed.

Expert's Bio

John Bolton

John Bolton is the owner of Squirrel Mortgage Brokers. He is a regular market commentator and a previous GM at ANZ National Bank. Squirrel Mortgage Brokers are the independent mortgage experts.

  • Company Name:
  • Phone:
  • Website:
  • View all articles by: