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Ask An Expert: 2 Properties On 1 Mortgage

Monday, February 18, 2013

Jesse asks the APIA Expert Panel:

Can I buy two properties on the one mortgage?

Lena Li, ANZ Mobile Mortage Manager, Answers

Generally speaking, we lend base on an acceptable lending ratio and the type of security we hold.
The lower your existing lending ratio the more chance you can top up on an existing security to buy the second property.  Furthermore, we do not necessarily have to take your second property as security.  The deliberation of a top-up will be on a case-by-case basis.  If you want to borrow over 80% on your existing property, you will need to meet the criteria of over 80% lending but this can be assessed accordingly.  You may also put the whole lending into a flexible form of loan in some cases depending on individual needs and individual statement of position. 
For more information and personalised advice, contact a friendly ANZ mobile mortgage manager and they will be more than happy to help!

The APIA Property Expert Panel is ready to answer your property questions.  Write us an email to elves@apia.org.nz and we will get you an answer pronto!

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