Sharon and Steve were interested in buying an investment property in New Zealand but did not want to make the trip across the Tasman to arrange their investment loan. Sharon and Steve also wanted to know if they could use the available equity in their home to raise the deposit and associated costs to complete the purchase.

Austral was able to refinance their existing home loan (7.45%) to a more attractive 7.05% and provide the additional $40,000 for the deposit and costs. Having already made the trip across the Tasman to find their investment, Sharon and Steve were keen to make the loan approval process as simple as possible without the need of a further trip.

Sharon and Steve were able to borrow 90% of the value of their new Auckland property and had the loan approved in 48 hours. Without any overseas borrower restrictions applicable to our product and with the assistance of our Auckland office, we were able to make the loan approval process a pleasant experience.

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