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.
Having enough equity to go again is one thing, but being able to *service* that equity is something else! What is the best way to service equity in order to move on to another deal?
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?
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?