Finance

 

Apartment Funding

 

As the Swaffield Apartments are 46m2 they fall into standard lending security in a number of New Zealand Banks.

 

The banks will lend up to 85% on owner occupied apartments and 70% if these apartments are residential rentals*.

 

An example for Owner Occupiers:

 

Purchase Price: $550,000                             $450,000

                                                                      Equity Required: $82,500                               $67,500                                                                           

( This can be from personal Savings, Kiwisaver, Gift or parental support)

 

  Loan Amount: $467,500                            $382,500

                Interest Rate: 2.5% (lowest)

         Term: 30 years

       Repayment: $430 per week                         $350 per week

 

Combined or single Income Required to meet bank criteria:

               $90,000                    $85,000

 

(*NB Rental Property advice will need to be dealt with by Angela Peters whose details are below)

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For personalized Financial Advice please register your interest or contact.

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Angela Peters

Registered Financial Advisor

 

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