A second mortgage is exactly that. For higher-risk lending we sometimes use a bank for the first mortgage (has first priority over the property), and arrange a second mortgage with a finance company
25 Feb
2009
2009
Weighing Up the Costs: Buy Now or Wait for Next Year?
Filed under: Housing Market, Interest Rates, Mortgages, NZ Economy
Don’t get too focused on the absolute interest rate. Simply being able to buy, and buying well, are where you will make money in the property market at the moment.
Lenders have pulled-back from lending to First Home Buyers. Our view is that this has created opportunities for Investors to fill the gap and earn good returns (circa 10%-15%.) Each investment is small and you get to choose your Home Buyers. We’ll work with you to minimise the risks
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