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Financing information
LPS can assist you with raising the necessary finance for your purchase in both Australia or New Zealand. We have on staff both an ex-Bank Manager and a senior Banking Project Manager ready to assist you if required.
Most Clients raise the bulk of the finance they require (usually up to 70-80%) in the same country as where the property they are purchasing is located to avoid any exchange rate fluctuation risks.
Only certain Lenders will deal with Non-Residents wishing to borrow funds and certainly some are more experienced and therefore easier to deal with in this regard than others. Even fewer will lend to Non-Residents requiring Construction Loans if, for example, building a house. We can help you determine the best options for your circumstances.
If purchasing off-the-plan you will need to arrange a bank guarantee or possibly a deposit bond for the deposit which is usually considerably cheaper than borrowing the funds a long way out from completion.
You will also need to be aware of costs applying in the different countries such as stamp duty on both the loan and the property itself if buying in Australia and possibly Non-resident Withholding Tax payable in New Zealand if borrowing funds from offshore. Again we are well placed to advise you on all these matters and the ways to ensure you are complying with all requirements while minimising all costs.
LPS looks forward to assisting you with your financing arrangements if required.
