It has become a lot harder to get a mortgage, unless you have a big deposit or equity in another property. If the bank says no, then a second mortgage can be a cost effective and flexible back up option. A Second Mortgage is exactly that. For higher risk lending we sometimes use a bank
The theme here is 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. Bank credit criteria has made it much tougher to borrow. That said, if you have good income the money is there
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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38 College Hill, Ponsonby Auckland,
New Zealand 1011.
Tel: ++64 9 376 9688
Fax: ++64 9 376 9689
support@squirrel.co.nz
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