Mortgages and Property

New Zealand

New Zealand Mortgages - rates from approx 9.55% in NZ $

Includes Residential Property in New Zealand

New Zealand Mortgages available for both House Purchase and Home Improvements (other purposes on request)

Type of New Zealand Mortgage: Repayment basis only

Minimum: £ 50,000. No Maximum, but must not exceed 80% of Valuation or Purchase Price (whichever is the lower)

Proof of Income: required in all cases (can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, it is not always the case that the Lender will take all or part of these Incomes into account when determining the maximum loan available). Non-Status loans are currently not available. Also note that a Power of Attorney (resident in New Zealand) may be required by the relevant Lender.

Term: 3 to 25 years up to age 70

Currency: New Zealand Dollars only

Current Interest Rate: from approx 9.55% Variable in New Zealand Dollars. Fixed Rate loans are also possibly available (ie: Fixed for 5 years at 7.75%).

Example New Zealand Mortgage: Repayment Mortgage of approx NZ$150,000 over a period of 20 years at an approx interest rate of 9.55% Variable = approx NZ$1,423.50 Capital & Interest per month = a total approximate amount payable over the term of NZ$346,880 including capital, interest, arrangement and survey fees.