Hi All,
I own a rental property in NZ.
I live and work here and am domiciled here.
I have approx 45% equity in the rental property (i.e the mortgage is 55% of the current value of the property).
Is it a viable option to transfer the mortgage here? The reason being, that believe it or not, the interest rates in NZ are higher by 2.5%. And its a pain sending money back and losing out on the exchange rates!.
I am planning to ask this Q to my bank (i have HSBC accounts in both countries), but was wondering what people have to say here.
cheers,
I own a rental property in NZ.
I live and work here and am domiciled here.
I have approx 45% equity in the rental property (i.e the mortgage is 55% of the current value of the property).
Is it a viable option to transfer the mortgage here? The reason being, that believe it or not, the interest rates in NZ are higher by 2.5%. And its a pain sending money back and losing out on the exchange rates!.
I am planning to ask this Q to my bank (i have HSBC accounts in both countries), but was wondering what people have to say here.
cheers,
