Comments on: Financing property deals getting harder http://www.landlords.co.nz/blog/financing-property-deals-getting-harder A blog for New Zealand landlords and property investors Thu, 09 Feb 2012 07:09:47 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Not all bad news for property market « Landlords.co.nz Weblog http://www.landlords.co.nz/blog/financing-property-deals-getting-harder/comment-page-1#comment-84 Not all bad news for property market « Landlords.co.nz Weblog Wed, 12 Mar 2008 02:55:07 +0000 http://landlords.akira.dyndns.biz:8080/blog/financing-property-deals-getting-harder#comment-84 [...] all bad news for property market A couple of months ago I commented that getting finance for property deals was getting harder and harder to obtain and that lending [...] [...] all bad news for property market A couple of months ago I commented that getting finance for property deals was getting harder and harder to obtain and that lending [...]

]]> By: Kim Lyons http://www.landlords.co.nz/blog/financing-property-deals-getting-harder/comment-page-1#comment-78 Kim Lyons Mon, 11 Feb 2008 04:11:38 +0000 http://landlords.akira.dyndns.biz:8080/blog/financing-property-deals-getting-harder#comment-78 We have certainly noticed that all lenders have reviewed criteria in view of current finance squeeze and the slowing property market. As mortgage brokers though this has lead to an increased level of enquiries for both bank deals and the higher risk finance company proposals. Common enquiries have been refinancing to consolidate debts, bridging finance and open ended land bank / subdivision / spec builds. We have had a very good success rate with this new business but have often had to look outside the Banks and our traditional funders, revisiting lenders we may not have dealt with for sometime. The good news is that there are still funders who are keen to do business although they may have put both interest rates and / or fees in the current maket. Another option being considered by clients is to only pay part of interest choosing a rate of say 6.0% and having part of the interest capped onto your home or investment loan for a fixed period. You must have good equity & history though for this to be possible Same as ever, do not give up on achieving your goals just becase one person says no! Kim Lyons First Rate Mortgages Limited Mobile 021 739922 www.firstratemortgages.co.nz We have certainly noticed that all lenders have reviewed criteria in view of current finance squeeze and the slowing property market.

As mortgage brokers though this has lead to an increased level of enquiries for both bank deals and the higher risk finance company proposals.

Common enquiries have been refinancing to consolidate debts, bridging finance and open ended land bank / subdivision / spec builds.

We have had a very good success rate with this new business but have often had to look outside the Banks and our traditional funders, revisiting lenders we may not have dealt with for sometime.

The good news is that there are still funders who are keen to do business although they may have put both interest rates and / or fees in the current maket.

Another option being considered by clients is to only pay part of interest choosing a rate of say 6.0% and having part of the interest capped onto your home or investment loan for a fixed period. You must have good equity & history though for this to be possible

Same as ever, do not give up on achieving your goals just becase one person says no!

Kim Lyons
First Rate Mortgages Limited
Mobile 021 739922
http://www.firstratemortgages.co.nz

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