Propellor unconcerned about LVR restrictions
Propellor Property Investments principal Nikki Connors doesn't believe new loan to value rules will affect her clients.
Auckland-based, Propellor Property Investments principal Nikki Connors doesn’t believe new loan to value rules will affect her clients. She sells “off the plans” real estate, mainly apartments.
These are exempt from the 30% deposit rules that are aimed mainly at overseas investors buying existing homes, she says. Propellor offers clients the services of professional advisers who assist investors in using equity in their own homes for a 20% deposit. However, elements of the structure depend on ever increasing values.
Ms Connors recommends clients restructure their arrangement once a property has increased in value by increasing their loan “and taking the first home out of the equation, she says.
“My clients are mum and dad Kiwis and often the only currency they have is the equity in their first home and it’s the only option to secure something for their future.”
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Chris Hutching
Thu, 08 Oct 2015
Thu, 08 Oct 2015
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Propellor unconcerned about LVR restrictions
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