I'm looking at applying for a home loan in the near future but currently have a joint home loan back in NZ.
Does anyone know how foreign (NZ) repayments are considered for a new home loan here? I've had mixed messages where an advisor has told me only my share of the repayments will be considered (50% of the repayments) with another saying regardless if the loan is joint, the full repayment will be considered based on loan balance and interest rate.
Any info would be much appreciated!
Don't tell the bank. Unless the bank you are with in NZ ie ANZ is same as the one you are apply for a loan here. Also if it isn't deposited into your bank account here then there is no nosey bank assessors.
That said, I am not saying go and borrow money you can't afford.
Or Westpac, or ASB (owned by CBA), or BNZ (owned by NAB) …
what, and hope your bank doesn't run a NZ veda check? Good luck with that.
Why would they run a NZ veda check if you didn't say there is assets offshore and nothing appears on your bank statement? It is like a bank going to all 180 countries running credit checks without suspecting anything.
Maybe because they wanted to borrow sex hundred thousind..?
Really depends on your passport - if it's an NZ passport then yes we're going to run a NZ veda check.
Thanks guys!
With any joint loan they assume the whole loan as yours for servicability. Which sucks because if it's a rental they only take your share of the income… :/