In a first for property investors in New Zealand,
eligible borrowers now have the opportunity to lock in up to
20 years of interest-only payment terms for their
residential property investments.
Property lending
specialist Resimac has launched its new Cashflow 20 Investor
Loan to help professional investors maximise the return on
their investments, with mortgages taken out this year
benefiting from interest-only repayments until
2042.
The interest-only repayments period is available
for a maximum 50 per cent loan to value ratio (LVR).
Principal and interest repayments apply to additional
lending.
Resimac New Zealand General Manager Luke
Jackson said savvy property investors have a long-term lens
when assessing property opportunities, but there was a
significant gap in the market for loan products that
accommodate this future focus.
“Our new Cashflow 20
Investor Loan has been purpose-built to help investors seize
opportunities now and build an investment portfolio in a
cashflow-effective manner.
“In a climate of
uncertainty that has seen banks pull back significantly on
their interest-only mortgage options, Resimac is delighted
to offer investors a unique product that gives them the
predictability of up to 20 years of interest-only payment
terms.”
Mr Jackson said the Cashflow 20 Investor
Loan was another example of Resimac’s innovative approach
to home lending.
Earlier this year, Resimac had its
‘fast lane’ method of assessing loan applicants validated by
the latest changes to the Credit Contracts and Consumer
Finance Act (CCCFA).
“Resimac is solely focused on
residential property, so we’re more agile in designing
solutions in response to customer demand,” Mr Jackson
said.
“As property lending specialists, we think
outside the square to create products that fit customers,
rather than force customers to fit products.”
A
marketing campaign spanning major metropolitan newspapers,
digital, social media and radio is underway to support the
Cashflow 20 Investor Loan.
Property investors
interested in the Cashflow 20 Investor Loan can find out
more at https://www.resimac.co.nz/2042vision.
