20 17 what are the conditions for buying a house with a new Zealand loan?

More and more people apply to buy a house in New Zealand, so what are the loan conditions for buying a house in New Zealand? This is a concern of many immigrants. Let's take a look at it with the overseas immigration network! The following is the relevant information I have compiled. Welcome to reading.

New Zealand housing loan conditions

Can overseas buyers borrow money to buy a house in New Zealand?

You can borrow money from overseas income. The bank needs the income certificate of the loan applicant for 6 months (preferably with a fixed monthly income), the annual income certificate provided by the company, and the copy of the credit card transaction slip and passport for 6 months. However, overseas loans can only reach 60%-70% of the total price at most.

What problems should we pay attention to in lending?

1. In some loan cases, some overseas customers did not make full preparations before arriving in New Zealand to buy a house, so it is regrettable that they missed their favorite property. It is suggested that overseas investors should buy real estate in New Zealand. If they need to borrow money in New Zealand, they should contact the loan consultant in advance, so that investors can pre-approve the loan before they arrive in New Zealand, so that they can find real estate with confidence after landing. It should be noted that the validity period of loan pre-approval in New Zealand is usually 180 days.

2. If you can stay in New Zealand for a long time, please prepare all the materials needed for the loan before you arrive in New Zealand to prevent the running slip of overseas banks from being printed.

3. Banks in New Zealand have slightly different policies for overseas investors to buy New Zealand real estate. Please consult the loan consultant about the policies of each bank to avoid complications. For example, some banks only accept the signature of the applicant, but due to improper time arrangement, the applicant cannot sign in New Zealand in time.

There are two ways to get a loan in New Zealand: go to the bank to get a loan yourself or find a loan broker. Customers looking for loan brokers account for about 40% of all loan business, which is very low compared with the United States and Europe. However, with the hot real estate market, more and more buyers change from meeting demand to investing, and professional loan brokers still have obvious advantages in this respect.

A good loan broker can not only bring the best loan interest rate and cash return to customers (usually loan brokers will help customers get much lower loan interest rates from banks), but also play a professional consulting role in the whole process of buying a house.

Are there any restrictions for foreign buyers to invest and buy houses in New Zealand?

After the implementation of the new real estate tax policy in New Zealand, the regulations for overseas buyers to purchase houses have been tightened. Foreign investors need to provide New Zealand tax number and bank account number, and provide tax information of the investor's country.

If the non-owner-occupied property purchased by investors is sold within two years after purchase, CGT (capital gains tax) will be levied on the value-added part, and the tax rate will be levied according to the annual personal income tax rate stipulated by New Zealand Taxation Bureau. Auckland real estate investors need to make a down payment of 30%. In terms of area, there are no restrictions except for more than 50,000 square meters of land and more than 4,000 square meters of first-line seascape.