Do I Qualify?

Eligibility and criteria

  • We arrange loans primarily in NZ Dollars; however other currencies may be available if your salary is paid in that currency
  • Repayment and Interest only loans are available
  • The maximum loan to value is 70%.  NZ expats can borrow up to 80%
  • ]The maximum term is 30 years – available to age 70.
  • The minimum loan amount is NZ$100,000 with no maximum
  • All schemes require full documentary evidence of income – ‘self-cert’ mortgages are not available.

Affordability

Generally New Zealand banks will only lend up to a level where the property can be serviced by New Zealand based income.  They will make exceptions for high income eanrers working in strong industries in developed countries.

Income earned overseas (excluding New Zealand) will be reduced by 20% for exchange rate fluctuations.

If reliant on offshore income, sometimes the bank will request a secured term deposit to support servicing.  This is often only required for the first 6 months.

The amount that you can borrow is also restricted by the maximum loan to value as mentioned under Eligibility and criteria.

Proof of income requirements

If you are employed:

  • Your last three month’s payslips
  • Bank statements which show rental receipts for any existing new Zealand property
  • Your last three month’s bank statements

If you are self-employed:

  • Your last two year’s Audited Accounts, Tax Returns
  • Your last three month’s personal and business bank statements

Other documents will be required and will be confirmed when application forms are sent to you.

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