Finance & Strategy Expert

Finance & Strategy
Ask Kris Pederson, director of Kris Pederson Mortgages questions relating to Mortgages, Finance, and Strategy

Kris is a respected commentator on the property and finance markets in New Zealand and overseas. He spends his time working closely with his support team sourcing clients leading edge finance strategies.

Accessing equity

Hayley asks:

I am looking at using equity for another home. My parents currently own a home valued at $600,000 and there is $98,000 left to pay. How do I go about applying or could you recommend a bank that is easy to deal with?

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Loan movements

Dee asks:

I purchased an investment property 12 months ago and paid 50% as a deposit. I have now sold an overseas property and bought a house for myself, which is also mortgaged 50%. I want to move the loan on my house to the investment property, which the bank is willing to do.

However, when I asked my accountant if I could claim on this additional mortgage on the investment property he said I couldn't as I didn't need it when I first bought the property. This seems to go against everything I have read in this forum and in books. Is he misinformed?

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Sell or hold in Kingsland

nadia asks:

We own an apartment in Kingsland, Auckland which looks as though it has significantly increased in value since we bought it. It is not quite a positive cash flow yet: we contribute a small amount each week to cover the mortgage and body corp fees.

But, if we sold it, we could possibly buy another rental in somewhere like Hamilton, almost mortgage free. We know that Auckland property values are growing faster than those in smaller towns, but we feel like this could give us some extra cash in the hand for our daily lives.

What do you think?

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