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New Zealand Investment Property and Mortgages for Overseas Buyers
At Approved Mortgage Brokers Ltd we have many off-shore clients.
Our off-shore clients buy for a variety of reasons, for example, expatriates who intend to return to New Zealand at some stage but wish to buy now, expatriates that have higher incomes overseas and wish to put that income to good use, non-residents who wish to emigrate to New Zealand and of course people who think that NZ offers great opportunities for property investment - nil capital gains taxes, no stamp duties, and generous depreciation schedules make NZ a great place to invest in property!
Differences Between Off-shore buyers and New Zealand-based buyers
The main difference is the deposit size. Normally in New Zealand you would only require a 5% deposit. If your income is sourced from outside New Zealand however, you will generally require a 20% deposit, however some banks are more flexible than this if you have a high level of income.
Generally, the other aspects of the deal remain the same, the banks will want to know that you can service the mortgage, that you are of sound character, and have a deposit.
Whether you are a kiwi living abroad or looking to emigrate to New Zealand we can help wherever you are in the world. Fill out our overseas buyers enquiry form for more information on how we can assist you.
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