The Kiwi dream is to own a residential rental property and create wealth by building up a small rental portfolio for retirement. We are still able to lend up to 80% of the value of an investment property around the country. The government introduced LVR restrictions on investment lending. If we are using equity from your existing home as security the lending may cover up to 100% of the cost of the investment.
A number of Non-Bank lenders have entered the market competing on price for investment property finance who will lend up to 80% of the value of the rental property. These are long term solutions which have competitive interest rates and allow investors to purchase more investment properties or release equity from their rentals. These options will not always be around and we look at each portfolio on a case by case basis.
Funding options available up to 80% of the value of the investment property
To be eligible for this type of investment lending you will need:
- A sustainable source of income
- Be A NZ permanent resident or citizen of NZ or Australia
- Ability to provide documentation to satisfy the conditions of the loan.
- The security (the property) must be acceptable in terms of the location and quality.
We can still offer funding to Australian residents buying a rental property in New Zealand. If you are having difficulty with your current Bank to purchase residential rental investments please get in touch to discuss some.
