Returning to NZ
Question from Luke updated on 27th June 2015:
We are New Zealand citizens living in the Gold Coast and are looking at moving back to Christchurch. We own a house in the Gold Coast (with a mortgage on it) and are going to rent it out, can we use the equity in it to buy a house in New Zealand?
Our expert Kris Pedersen responded:
You will need to approach an Australian based mortgage broker or lender and look to top up over there to release the equity. Then you can look at raising the remainder of the funds to complete the New Zealand purchase with a New Zealand lender who will take security over the property here. Feel free to get in touch.
Kris Pedersen of Kris Pedersen Mortgages is a commentator on property and finance. His team sources top finance strategies. www.krispedersen.co.nz