[NannyOgg]

Is it right that you can only get a mortgage in NZ once you hold PR? And not on a work visa alone?

Thanks

[StevieD]

I not sure nanny ogg but I seem to think I have heard that one as well...

[katandbob]

I am sure I once read a thread that said that you could, but you have to have more deposit and securities, and only some banks offered them?

but dont quote me, as my memory is terrible!

Kat..


ah, here is something mentioning mortgages for non residents....

http://www.emigratenz.org/forum/showthread.php?t=2507&highlight=mortgages

heres one for starters

Kat

[zardell]

Yeah Nanny, I thinks Kats right.

Why not do a forum search ????

I have a feeling Kim39 posted something a while back.

Julie

xx

[Diny]

Can't say for sure, but when we applied for our first mortgage they did mention being residents. Hubby is a Kiwi so he was OK but I remember them asking me if I was a resident. I must have an honest face because I told them I was and they didn't ask to see my passport.

Going slightly off track, but one thing we did have to supply was a UK credit check. However, I've heard of other ex-pats not having to. Guess it's luck of the draw of who you apply with.

Diny

[Avalon]

The difference seems to be that if you on a work visa - you will generally need a 20% deposit.

BUT - everything with mortgages here seems to be negotiable, I I have 1 set of friends who managed to get a mortgage with virtually NO deposit when they only have a work visa.

You may find that you cant get as good a rate or something in a case like that - but it appears it is do-able.

It pays to shop around with mortgages - and ask for better rates - they can only say no - and if they say yes- it will save you a fortune!

[Diny]

BUT - everything with mortgages here seems to be negotiable

This is very true. The ANZ bent over backwards for us when we applied for our initial mortgage, waving certain fees and knocking a percentage off the interest rate.

With our mortgage for our rental we had to pay 'naff all' (don't suppose that's a recognised saying in the financial world), and I mean NAFF ALL !! We got ALL the application and associated fees waved, got a full % off the interest rate and an extra months grace before the repayments started (which we don't actually pay - the tenant does).

We're now about to move house and they've offered us 'portability' on mortgage number 1 so that we don't have to pay any early settlement penalties - just a simple swap of title deeds. And yeah - all admin fees have been waved again.

And to top it all ....... our 'personal banker' is a young rugby playing Maori guy who fair near melts my heart when I see him. Maybe it's the flirting that's paid off.

(Or maybe he just feels sorry for a sad middle aged woman).

Diny

[marcia]

No wonder you keep having to just 'nip' in to check something and by the way Diny you haven't drooled all over him have you????

[Diny]

No wonder you keep having to just 'nip' in to check something and by the way Diny you haven't drooled all over him have you????


OK - so I may have dribbled abit - what's wrong with that?

[Kim39]

When we opened our ASB account we were offered a mortgage there and then, and we had only been in the country for 4 days, you are supposed to be classed as higher risk on a work visa and that is why they ask for at least a 20% deposit, but yes you can get a mortgage on a work visa.

Elaine (Kim 39's OH)

[Avalon]

Diny

Thats some impressive negotiating :cheers

I feel like I got ripped off now!

Hxxx

[NannyOgg]

Diny

I have been know to suffer with the odd dribble bout myself.
Which branch are you with?

I don't care how far away it is!

I am sure he will sucumbe (sp) to the Ogg charms and we can strike a good deal! :laugh

Nanny

I am sure he would not be able to resist the