Non resident finance

Discussion in 'Loans & Mortgage Brokers' started by Undervalued, 26th Nov, 2018.

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  1. Undervalued

    Undervalued Member

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    There hasn’t been a thread on non resident finance for a while...

    Keen to understand from the broker community whether there are options out there and finance being issued as well as any specific recent experiences.

    My scenario is specific to NZ citizen, NZ income, refinance of Aus freehold property (former PPOR now leased out).
     
    Undervalued, 26th Nov, 2018
    #1
  2. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Some lenders are ok with NZ citizenship and others are not.

    Westpac, Firstmac, CBA, etc all handle NZ citizens with CBA being the superior lender due to shading amounts, LVR, etc.
     
    Shahin_Afarin, 26th Nov, 2018
    #2
  3. astonma

    astonma Well-Known Member

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    When you say 'others are not' are you saying that they shade the income more than the ones you have mentioned? What sort of approx shading range do the ones you have mentioned apply to NZ earned income?
     
    Last edited: 26th Nov, 2018
    astonma, 26th Nov, 2018
    #3
  4. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Others not means they will not look at NZ citizens living and working in NZ earning NZ dollars as acceptable borrowers. NAB applies a massive shading of 40% whereas the others mainly do 20% and some do 10%.
     
    Shahin_Afarin, 27th Nov, 2018
    #4
  5. astonma

    astonma Well-Known Member

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    good to know appreciate the reply @Shahin_Afarin
     
    astonma, 27th Nov, 2018
    #5
  6. Richard Taylor

    Richard Taylor Well-Known Member

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    Away from NZ Non Residents it is still possible to finance any nationality to 70-75% lvr on both land and construction.

    Cheers
     
    Richard Taylor, 27th Nov, 2018
    #6