[coyotewildwomen]

Hi,

We are planning on coming over in November and buying a small bed and breakfast in Nelson or Hawkes Bay. Trying to sort out the financing piece of it which I am sure is different than the US.

Does anyone know what the average interest rate is on a 30 year mortgage? Do they offer adjustable rate mortgages? Are there private mortgage companies or just banks that do the lending?

What is the average loan to value ratio ie what percent do you have to put down to get the mortgage?

Thanks for your kind assistance,

Wendy

[coyotewildwomen]

Here is a good website I came across in my research, with the current competitive mortgage rates:

http://www.goodreturns.co.nz/section/200.html

At these rates, I think I will borrow money in the states on our other properties and pay cash!!!