When purchasing New Zealand property at some point in time you will need to send money to New Zealand either for the initial deposit or to simply top up your NZ bank account. Eventually you will need to extract monies from New Zealand too, ie. when you sell your property or collect the income from the property.
When investing in foreign property markets a consideration is exchange rate movements and difficulties in transferring funds internationally. A good way of mitigation against exchange rate movements is to establish the loan in the same country you buy the property.
There are several ways to send monies and arrange transfers internationally. It pays to think about who you will use to transfer your money across as it could save you thousands of dollars. Most people are unaware that there is an alternative to using their local bank; there are also non bank institutions that operate under the same licensing conditions as the banks, providing security with cost-savings.
New Zealand Property Solutions draws upon the services of NZForex to help you transfer your funds in a timely cost-effective manner. NZForex offers corporate rates and services to individuals, which means great savings on international transfers and more money at the other end. Using foreign exchange companies like NZForex instead of using your local bank can save you a lot of money.
» Click here to view our exchange rate calculator.