Purchase of an overseas property

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anitacam
Posts: 1
Joined: Wed Feb 03, 2010 11:41 am

Purchase of an overseas property

Post by anitacam »

Hi

I am a NZ citizen, however I have been living in Aussie for 5 years. We are looking at buying a property in NZ, due to the value of the Australian dollar compared to NZ.

At this stage, we only have $7,000 in the bank and are saving for our first home deposit.

Due to the rising cost of homes, we are looking at our options of entering the market earlier.

If we want to purchase a home in NZ, and have a family member living in NZ act as a guarantor, what are our options in terms of leders? Would we approach NZ lenders or Australian? We intend to stay in Australia and use the property as an investment. We currently earn approx $122,000 combined and have a personal loan of approx $10,000.

The property we are interested in costs 456,710.12 AUD.

Please help!

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Otto Dargan
Mortgage Specialist
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Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Purchase of an overseas property

Post by Otto Dargan »

Unfortunately this isn't something we can help with. You would need to approach a NZ lender. for assistance with this. We can help people living overseas to buy a property in Australia however we cannot use a property overseas as security for an Australian loan.

Thanks
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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