The New Zealand property market has been (and hopefully will always be) a brilliant place to invest your money. But when you’re overseas, securing finance from a lender can be a little challenging – even if you’re a New Zealand citizen.
To make investing in property from overseas easier, check out our quick guide for NZ citizens.
In 2018, NZ passed the Search Results Overseas Investment Amendment Act, which made it more difficult for non-citizens to buy property here. If you’re not a citizen, you may still be able to buy property here in some cases, including if:
If you’re a New Zealand citizen, you’re allowed to buy property here regardless of where you live. The hard part for most is securing finance.
Lenders assess income that’s earned overseas a little differently than NZ sourced income:
Each lender tends to have their own unique credit policies on lending to overseas borrowers and will work out your ability to service the mortgage using their own measures. As a result, some lenders may be very strict, making it difficult to secure finance – while others make it much easier.
That’s why if you’re overseas it’s a good idea to speak to a mortgage broker. We know which lenders make it easy for overseas borrowers and what they need to see on your loan application to approve it.
If you’re looking to buy property in NZ from overseas, Money Empire can help make it happen. We’ve already helped hundreds of overseas borrowers start building their nest egg here, and would love to help you do the same. Email or call us for a free consultation with one of our mortgage advisors to help you get started.