What materials do I need to prepare for a loan to buy a house in New Zealand?

With the improvement of people's living standards, more and more people plan to immigrate to New Zealand, so what materials do you need to prepare for a loan to buy a house in New Zealand? Next, let's take a look at the relevant content. Welcome to reading.

1. payroll (payroll with fixed income every month);

2. Employment contract (if there is no employment contract, it can be replaced by an employer's letter, which can mainly prove when you started working in this company, what position you hold, and what your salary or annual salary is);

3. Bank statement (bank statement for at least 3 months, mainly depending on whether it corresponds to payroll and consumption status. If you have a credit card, you need to provide a 3-month statement of the credit card, mainly depending on the credit status);

4. Copy of passport (identity certificate). These materials are what every loan intermediary will ask the lender.

Generally speaking, according to personal income, local people can borrow up to 80% of the purchase price when they buy villas in New Zealand, and overseas people can borrow up to 60% of the purchase price.

For apartments, you can borrow 100% before the economic crisis, but since the economic crisis, banks have made some restrictions. Take the apartment with one room and one living room as an example, the maximum loan is 50% for those below 45 square meters and 60% for those above 45 square meters. For apartments with two bedrooms and one living room, the maximum loan is 50% for those below 55 square meters and 60% for those above 55 square meters.

The loan period in New Zealand is generally divided into 25 years or 30 years to repay the loan. If you have money, you can repay all the loans during this period. In fact, 25 or 30 years is just a formality, because China people seldom use 25 or 30 years to repay their loans.

Loan interest rates are also divided into fixed interest rates and floating interest rates. Generally, both are used at the same time, for example, some loans are fixed for one or two years, while others are floating; Or all fixed for one year, and then fixed or floated according to the current interest rate after one year.

Because New Zealand's interest rate will be adjusted according to the economic situation at that time, for example, the current loan interest rate is the lowest in New Zealand history, only about 5%.

In New Zealand, some properties can't be loaned, that is, they are leaking houses.