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Thread: Morgages on a WTR Visa

  1. #1
    martingreasley is offline Junior Member
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    Default Morgages on a WTR Visa

    Hi all
    My application for a WTR Visa has gone into the high commision and I am awaiting my response (fingers crossed) In the meantime tho I have been looking at property in the area I will hopefully be living (Dunedin) I was wondering is it possible for non residents on a WTR Visa to get a Morgage ?? As worse case scenario I did not obtain residencey after two years providing I got a morgage early doors and paid it for two years I think I could have substanial amount paid off and it would be mine as opposed to lost money paid in rent ? If it is possible is there anyone that I could speak to to assist in a morgage application should my WTR visa come back sucsessfully
    Regards

  2. #2
    sleepyone3 is offline Junior Member
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    The main thing is proving you have an income from employment to pay off the mortgage...my experience is that the house buying process in NZ is so very quick compared to other countries too, so that's good.

  3. #3
    martingreasley is offline Junior Member
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    Thanks..........Well one things for sure it couldn`t possibly be any more difficult than the UK, thats a nightmare from start to finish! If thats the main thing is proving a income that shouldn`t be too much of a problem as I will be working from day one and have been sponsored (pending visa) by a accrediated employer. So assume I will have to work three months to get some sort of financial history in New Zealand ? Is there some sort of credit scoring system like there is in the UK ? Here if you apply for a Morgage and get refused it damages your chances to re-apply soon after ?

  4. #4
    sleepyone3 is offline Junior Member
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    if you have proof of employment eg letter from employer with salary on it plus can show savings then you'll be fine - we bought our house on day 6 in NZ with a NZ mortgage so shows it can be done :-) good luck - it's much simpler than uk. maybe try a mortgage broker - moneybokx were good in wellington

  5. #5
    Cliff's Avatar
    Cliff is offline Oh Masterful One
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    Cool

    You can call a mortgage company, broker, or bank before you come over to see how you stand and what you need. They want you your business and will be happy to talk. Sign up with Skype for calls to NZ. It won't cost much and you can make unlimited country wide land line calls. This will give you time to think over your options befoer you arrive.
    Cheers

    Cliff

    Nelson, New Zealand
    NZ Citizenship in 2000, been in NZ 15 years now
    Arrived NZ in 1997 from Las Vegas, Nevada, USA

    "New Zealand isn't just a physical place it is a state of mind."

  6. #6
    nickydwuk's Avatar
    nickydwuk is offline God like figure
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    We had a mortgage approved in principal before we arrived in NZ. We saw a house online, made an offer that was accepted and the bank approved the mortgage before we set foot in the country. All I needed to do was show proof of my employment (job offer). So easy.
    Nursing Registration sent 5th August 2007
    Job Offer 25th September 2007
    Nursing Registration received 28th December 2007
    Submitted EOI 3rd January 2008 with 150 points
    Selected 17th January 2008
    ITA Received 31st January 2008
    ITA submitted 25th April 2008
    Approved in Principle 3rd May 2008
    Blue Stickers arrived 13th May 2008
    Flights booked for 19th Sept to Christchurch

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