[yossarian]

i'm not certain if this is the right place to ask but..if given WTR visa is it possible to:
buy a property, like an apartment, condominium or lot under your name. buy a vehicle (car or motorcycle) under your name


i assume, there's no problem with the aboves when given residency right?

thanks!

[IanW99]

i'm not certain if this is the right place to ask but..if given WTR visa is it possible to:
buy a property, like an apartment, condominium or lot under your name. buy a vehicle (car or motorcycle) under your name


i assume, there's no problem with the aboves when given residency right?

thanks!

No problem with either question under a WTR, in fact I don't think there are any practical restrictions regardless of visa type on what can be purchased.

Certainly we bought a property and car whilst only having a WTR. The only problem we found were that you needed a 20% deposit for the house.

Ian

[colindp]

You will most likely find that with any finance offered the term of the loan (be it for a car or whatever) will be only for the validity of your WTR e.g. 30 months.
Unfortunately I am not sure how it goes for the purchase of a property as I rented for the duration of my WTR....:nice1

[IanW99]

You will most likely find that with any finance offered the term of the loan (be it for a car or whatever) will be only for the validity of your WTR e.g. 30 months.
Unfortunately I am not sure how it goes for the purchase of a property as I rented for the duration of my WTR....:nice1

A slight clarification to this, if you take out any loan while on a work visa then they will normally limit the term of the loan to the length of time you have left in NZ so for example, if you are in NZ on a 30 month visa and after 6 months apply for a loan then the maximum term is likely to be 24 months as this is all the time you have left to remain legally in NZ.

This doesn't appear to be an issue with mortgages though as I guess they can just re-possess the property?

Ian

[yossarian]

i see.. thanks for the answers! :)