Whether you are new to property investment or a long-serving veteran, finding a competitive investment loan is an important part of ensuring you can maximise your returns.
You’ve got the option of either variable or fixed products, with each having their individual benefits and drawbacks. A variable rate loan will give you the chance of securing flexible loan features, but you are susceptible to rate increases that will adversely increase your repayments. Of course, there’s also a possibility that your interest rate may decrease.
On the other hand, a fixed rate loan means that your interest rate is fixed for an agreed period of time. A fixed rate loan will give you the benefit of predictable repayments, but limited loan features.
Choosing between a variable rate and a fixed loan rate will depend on your investment strategy, so it’s important to compare the two to distinguish which one will suit you better.
With the help from one of our friendly team, you can shop around for a good investment loan from over 50 different lenders.
Strong credit implies a lower risk status for lending. Lenders reward this by providing more competitive rates and deals.
To develop or maintain strong credit, Lenders like to see that you are making all your existing payments on time, such as existing loan repayments, phone bills, utility bills, credit card bills, etc.
Be as ready as you can be by filing all your electronic or hard copy bills. Having your documentation all together will speed up your application process.
Do you have existing equity? For many, using existing equity as a deposit for their investment property is a popular option for first time investors.
