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Thread: Buying a house | Talent (accredited employer) work visa

  1. #1
    Join Date
    Feb 2015
    Location
    New Zealand
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    45

    Default Buying a house | Talent (accredited employer) work visa

    Hello,

    I am on a Talent (accredited employer) work visa. This seems to be a residence-class visa with an option to apply for a PR in 2 years. I have been on this work visa for the last 5 months.

    Questions
    - Can I buy a house while I am on this work visa?
    - Would banks (BNZ for example) provide housing loans while I am on this visa? This is a question to the bank, but posting it here while I wait for a response from them.
    - Is it a good idea to buy a house at this juncture? Or should I wait for the PR and then go for this? I can afford it now and find it wasteful to spend money on rent

    Thoughts?

  2. #2
    Join Date
    Feb 2008
    Posts
    35,690

    Default

    Talent (accredited employer) isn't a Residence visa. See my post on your other thread.

    However, people can buy a house on that visa. Whether or not banks will lend will vary with the bank, and the applicant's personal circumstances. (Even foreigners with only a visitor's visa can legally buy most houses in NZ.)

  3. #3
    Join Date
    Aug 2009
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    Scotland to Wellington
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    - Yes, you can buy a house on this visa.
    - As for a mortgage, yes, banks will lend on this (BNZ certainly let us) but as mentioned above depends on your own personal situation etc.. You need to talk to a bank.
    - only you can really decide if it is a good idea. Depends so much on where you are in NZ, how long you intend to stay etc

  4. #4
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    Aug 2009
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    - Yes, you can buy a house on this visa.
    - As for a mortgage, yes, banks will lend on this (BNZ certainly let us) but as mentioned above depends on your own personal situation etc.. You need to talk to a bank.
    - only you can really decide if it is a good idea. Depends so much on where you are in NZ, how long you intend to stay etc

    If you do decide to buy a house, do a lot of research, get as much advice as you can and go to lots of open homes.

  5. #5
    Join Date
    Oct 2013
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    New Zealand
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    remember too that just because you are on a talent visa, you don't have to wait two years to apply for residence. if you are eligible for residence under SMC you should consider applying now.

  6. #6
    Join Date
    Feb 2015
    Location
    New Zealand
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    Thanks 'JandM' and 'girlwithanewf'. I am reaching out to a banks. BNZ, TSB, WestPac and KiwiBank refused to entertain me for this home loan. However, ANZ and ASB did consider my application. Will update this thread as and when I get to know more.

    @ChrisMwn - thanks for sharing your views. There is another thread (http://www.enz.org/forum/showthread.php?t=41587) on this point. Let me put forward some of my points there.

  7. #7
    Join Date
    Mar 2017
    Location
    Johannesburg
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    @ bengaboy, please keep us posted on your situation.
    I'm going to be moving to Auckland later this month on the same visa (Talent Acquirer) and was also considering selling my property back home and hopefully buying a house when my family relocate a few months later.

    If ANZ or ASB are willing to consider work visa applicants and provide you a loan if might make sense for me to open an account with them once i move over.

  8. #8
    Join Date
    Feb 2015
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    New Zealand
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    I finally went with BNZ. ASB was the other bank which offered me a loan.

    Things look different this time around (after a year) and pretty much all banks are willing to offer me a loan. My visa/work permit remains the same though.

    Try and get through to the manager of the branch to have this discussion. They are more aware of the policies - just a tip!


    Quote Originally Posted by es21 View Post
    @ bengaboy, please keep us posted on your situation.
    I'm going to be moving to Auckland later this month on the same visa (Talent Acquirer) and was also considering selling my property back home and hopefully buying a house when my family relocate a few months later.

    If ANZ or ASB are willing to consider work visa applicants and provide you a loan if might make sense for me to open an account with them once i move over.

  9. #9
    Join Date
    Mar 2017
    Location
    Johannesburg
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    Thanks will do.

    Quote Originally Posted by bengaboy View Post
    I finally went with BNZ. ASB was the other bank which offered me a loan.

    Things look different this time around (after a year) and pretty much all banks are willing to offer me a loan. My visa/work permit remains the same though.

    Try and get through to the manager of the branch to have this discussion. They are more aware of the policies - just a tip!

  10. #10
    Join Date
    Oct 2006
    Location
    Waterloo, Lower Hutt
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    I would recommend talking to a mortgage broker. Banks have significantly tightened up their lending policy and their views change regularly.
    They also each treat work & residence visa holders differently. Some banks now prefer holders of 'PR' rather than work or residence visa's.

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