Conditions for New Zealand immigrants to borrow money to buy a house

# New Zealand Immigrants # Introduction Many people will choose to live in New Zealand, and many of them will choose to buy a house. What are the conditions for a New Zealand loan to buy a house? Tell everyone below, welcome to read!

Conditions for New Zealand immigrants to borrow money to buy a house

China investors are more active in the New Zealand real estate market. However, for China investors, if they want to buy a house in New Zealand, they need to face some complicated cross-regional operations. Under normal circumstances, investors will hand over the selected property to lawyers to complete the relevant procedures. But even so, investors still need to know the specific New Zealand housing purchase process and matters needing attention, so as to consider the investment direction as a whole.

When buying a house, the first thing to do is to look at the house. To see a house, you must first decide where to buy it. The five major regions in southeast, northwest and central Auckland should first choose the general direction. After that, we should narrow down the scope and look at the houses in several communities in the area. When looking at the house, you should have a basic requirement for the house you want to buy, such as several bedrooms, several bathrooms, brick or wood, how many years it has been new, and whether there are any special requirements for schools and transportation. Only when these basic concepts are confirmed can you choose a house gently.

Secondly, you have to decide the basic price of buying a house, or what is the best online. At this time, we who make loans can help you. Generally speaking, the bank can lend you 80% of the purchase price. For example, for a 250,000 house, you need 50,000 down payment, and the bank can lend you 200,000. If your income is relatively high and stable, the bank can even lend you 95%. In addition to the down payment, you should also consider your repayment ability, which is your income. Calculating the repayment ability is more complicated. Everyone's situation is different, and the calculation method of each bank is different, so if you want to know whether you can get a loan and what the monthly repayment amount is, you must contact our loan broker first.

With the first two items, you can see the house more purposefully. When looking for a house, find a broker who is familiar with the area you want, because they are familiar with the housing prices, residents, schools, shopping and so on in that area, which can give you better guidance.

The Bank of New Zealand officially announced that buying investment houses across New Zealand requires a down payment of 40%!

The provisions of the New Deal are:

For real estate investors: In New Zealand, at least 95% of real estate investors need to provide a down payment of more than 40%. At present, only real estate investors in Auckland need to provide a 30% down payment. For home buyers: more than 90% of home buyers' loans need to provide more than 20% down payment. The previous policy was that more than 85% home buyers outside Auckland needed to provide more than 20% down payment.

Note: The New Deal is aimed at investors. For most first-time buyers, the down payment ratio is still 20%. In fact, the New Zealand government has been brewing this policy for a long time. Last June, 5438+065438+ 10 stipulated that the down payment of Auckland investors should reach at least 30%. This time, it was finally implemented throughout the country. As far as I know, many Chinese families who have settled in Christchurch for more than three years own more than two properties, those who have settled in 10 for more than one year, and many of them own more than five properties. In recent ten years, the rise of house prices and rents has caused many people to mortgage their houses to support their houses.

Further reading: the steps of skilled immigrants in New Zealand

1, self-assessment

Self-evaluation, make a self-evaluation according to your major, education, age, family situation, etc. And reach the minimum score set by the New Zealand Immigration Service before continuing.

2. Submit EOI

Here is a professional vocabulary, which is often used, called EOI, which is a shorthand. In fact, it is a form that an applicant needs to fill out, and then pay the fee and submit it to the Immigration Bureau. You can print it and send it to them, or you can fill it out online and pay online (online payment is cheaper than 100 and faster); If you apply online, you need to register an account on the immigration website now to continue.

3、DS

EOI may be a long waiting process, because it will only be selected once every two weeks (if your self-evaluation score is outside the chart, you will definitely be selected, and it is said that the score outside the chart is140); After being selected, your application status will change to DS. Congratulations, you have been selected successfully. Wait for the Immigration Bureau to send you an invitation letter, but it will take a long time from being selected to receiving the invitation letter.

4、ITA

What is the invitation? Its name is ITA. At present, it is mostly sent by email. After receiving it, your road to skilled migration to New Zealand is already half successful (because if the applicant's materials or qualifications are not up to standard, it will definitely be rejected, and there will be no ITA).

5. Submission

I am busy when I have it. You must submit a formal application as soon as possible. The materials include passport, application form for skilled immigrants, physical examination report, certificate of no crime, notarization of kinship, notarization of household registration, notarization of birth, notarization of academic qualifications, letter of support from employers, proof of English proficiency, and proof of whether there is a spouse (if necessary, prepare all kinds of proof materials for living together).

6、AR

All the above materials have been prepared and submitted within the specified time, so you need to wait for AR, which is another very important abbreviation. The immigration department has received the materials, mainly because the document processing department of the immigration department is sorting out and electronically inputting the materials submitted by the applicants. Upon completion, you will receive an email telling you the application number of the immigrant and the time of AR.