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Ram Prasad

5 months ago

As of 01/01/2018, an investor has to give 35% as deposit for an existing property, which would be $133,000 in this case. Now if it is owner occupied then deposit would be 20% that is $76,000. If it is a new property or to be constructed then it would be $114,000 as an investor. He has to deal with NZ banks, Australian banks do not accept ANY OTHER SECURITY FROM ANYWHERE ELSE IN THE WORLD.

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Alex

5 months ago

Hi Shiloh, generally Australian banks won't lend to someone where the security property is located overseas, as it's a completely different legal & title system with different procedures etc. Your best option would be to have a NZ bank lend you the money and as such I would recommend talking to a mortgage broker based in NZ and they would be able to give you advice on which bank in NZ could possibly lend to you and what the minimum deposit would be.

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