Interest rates for investors - is it different ?
| # | Post |
|---|---|
| 1 | Are investors able to secure the BNZ rate of 2.29 on a property they don't occupy although it's family who live there? Asking because I bought a property in my name for a family member while they were waiting for their own property to be marketed and sold. I think I am classed as an investor even though the house will be transferred to the family member when their funds from their house sale become available. pauline999 - 2021-01-26 13:58:00 |
| 2 | Best to ask the bank. We haven’t paid extra as investors on any of our mortgages for a very long time. I *think* ASB used to have higher interest rates for investment properties We are with ANZ and Westpac currently and don’t pay any extra. You can also ask the bank to give you a lower rate than that advertised as a “valued customer” Edited by princess52 at 2:53 pm, Tue 26 Jan princess52 - 2021-01-26 14:52:00 |
| 3 | Rates are same same for most banks, just the LVR differs. jeffqv - 2021-01-26 16:09:00 |
| 4 | pauline999 wrote: tax to pay re the brightside test? gabbysnana - 2021-01-26 18:20:00 |
| 5 | gabbysnana wrote: Hmmm. OP, did you take legal advise before doing this? sparkychap - 2021-01-26 19:04:00 |
| 6 | This message was deleted. andrew697 - 2021-01-26 19:15:00 |
| 7 | andrew697 wrote:
Could be gifting the relative tens of thousands of capital gain. No good deed goes unpunished though. sw20 - 2021-01-26 21:39:00 |
| 8 | This message was deleted. andrew697 - 2021-01-26 21:50:00 |
| 9 | Yes, the 'sale price' to my family member will be for the amount remaining on the mortgage. Interestingly I have received two letters from the bank a day apart confirming my 'agreed' interest rate of 3.45% and 3.8% respectively as Residential Investor to Residential Owner Occupied (Mortgage was set up in 2 parts with one part 'floating rate' and 1 part fixed for 12 months) Settlement of family property took longer than expected. I will be calling in to the bank to sort this one out! pauline999 - 2021-01-28 15:58:00 |
| 10 | Interest rates for investors are lower. I thought everybody knew that? johotech - 2021-01-28 18:53:00 |
| 11 | pauline999 wrote:
I think you need to change banks! jeffqv - 2021-01-28 18:57:00 |
