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New Zealand – Property Financing

Mortgages for Foreign Nationals in New Zealand

Local banks and other lenders in New Zealand issue mortgages to foreign nationals. Some of the main lenders in the country include ANZ Bank, BNZ Bank, ASB Bank, Westpac Bank, and Kiwibank.

Deposit Requirement inNew Zealand?

The amount of deposit you need when buying a property in New Zealand depends on the lender, the type of loan, and your personal circumstances. Generally, a deposit of at least 20% of the purchase price is required. However, some lenders may require a higher deposit, depending on your financial situation.

Outstanding Debts on the Property in New Zealand

New property owners in New Zealand are responsible for any outstanding debts on the property. This includes mortgage payments, rates, and other charges such as utilities and maintenance. It is important to perform a due diligence check and to make sure that there are no outstanding debts on the property before purchasing it.

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