Advice for first time rental investments & those with larger rental portfolios
Rental investment property loans from Non Bank lenders are available up to 80% if you are living in New Zealand, or 60% if you are overseas. Many of our investment enquiries are from Australia, being both Kiwis living overseas or Australian citizens looking to invest offshore. The banks have very strict criteria on non-residents and off-shore income, and we often find that funding is more accessible in these instances from Non Bank lenders.
A popular option is to have your home loan and rental loan with one Non Bank lender, as they can then allow a maximum of 80% lending across both your home and rental investments. Another option is having a first and second mortgage in NZ which will allow you to settle on the rental, then if you are able to add value through improvements or capital gain, we can consolidate these into one mortgage, further down the track.
If you have substantial equity in your home, we can use this equity to allow you to start funding up to 100% on rentals with your current bank, or look to release equity to start a relationship with a new bank or Non Bank lender.
You may be having trouble finding a deposit with your bank to allow you to purchase your first residential rental investment, or you already own a number of rentals, and are looking to add more properties. We may have a Non Bank rental investment option that is right for you.