international mortgages
new zealand
Please note, that there are no non-status/self-certification mortgage facilities available in New Zealand (although renting out your property is permitted), all loans need to be supported by a minimum requirement of proof of income, i.e. if employed - copies of your last three month's payslips & copies of your latest P60/Employer’s Reference together with copies of your last 6 month’s Personal Bank Statements will be required or alternatively if you are self-employed - copies of your last two years Audited Accounts & copies of both your last 12 month's Business and last 6 month’s Personal Bank Statements will be required on application.
Unfortunately in New Zealand the New Zealand Lenders will NOT take into consideration any proposed Rental Income from the property for mortgage purposes/repayments.
Your loan is based on your joint net “take home” pay and is calculated on an affordability basis. All your existing liabilities including any mortgage/rent payments, personal and bank loans and any maintenance (ie: Divorce) payments together with your proposed New Zealand mortgage payments must not exceed 35% of your net monthly income.
Example:
Net joint monthly income £ 2,500 times 35% of that figure is £ 875 minus existing monthly mortgage payment £ 300 – No other liabilities. This leaves a balance of £575 for a proposed New Zealand Mortgage payment.
Mortgage details:
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Maximum loan to value 80%
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Maximum term 25 years
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£50,000 minimum loan
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New Zealand Dollars only
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Repayment mortgages only
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Rates from approximately 9.55% for variable rates or can be fixed for five years at 7.75%
If you would like to speak with a representative to discuss your requirements please call +(34) 677 874 948
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