Existing Home or Investment Property Purchase

Existing Property Purchase or Refinance - another 'grass roots' service from Onion!

At Onion, not only do we apply our expertise to construction funding for G.J. Gardner Homes, but also funding of existing property purchases and refinances. 

As with all lending, your personal circumstances will dictate the borrowing structure appropriate to your needs. If you have 20% deposit or equity in other property that allows you to contribute a minimum 20% equity, then you are well placed for funding your new purchase, providing of course you have the ability to service all loans. We will work with you to assess your options and ensure we deliver a finance package designed to meet your needs, plus negotiate on your behalf, a highly competitive pricing package!

If you require funding with less than 20% deposit, options have been reduced for existing property purchases due to the impact of the Reserve Bank of New Zealand minimum 20% deposit rules implemented in October 2013. We are however, seeing more activity beginning to open up as banks are starting to utilise their 15% capacity in this space. Don't let the 20% deposit requirement stop you, call us today for all your existing and new home purchase needs! 

Another commonly used option for first home buyers is for parents or family to provide deposit assistance in the form of a limited guarantee. This guarantee would normally be secured by a fixed priority mortgage over their home or other property. 

New home construction lending is of course exempt from the low deposit restrictions and opens up greater options if you have a deposit of less than 20%.

The good news.....finance options do become more expansive and considerably easier when you have a deposit or equity of 20% or more which then allows greater flexibility of loan structuring plus you avoid the interest and/or fee premiums charged on low equity lending. These structures could include any one or a combination of principal and interest, interest only and revolving credit loans.

Call or Contact us Now for assistance with:

  • Your home loan finance needs
  • Multi property residential investment funding
  • All your insurance needs

We are here to help and....our services are FREE for your insurances and bank funded term lending (please note * comment on our Home page relating to short term lending facilities)