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Investing in expert advice
With tightening credit conditions and stricter lending policies being rolled out by banks, nowadays, more than ever, it’s important to seek the advice of a property investment-focused mortgage broker who can take the pain out of navigating what is an ever-changing and increasingly complex landscape for property investors.
At My Property & Finance, our dedicated team of investment lending experts keep abreast of the rapidly changing policies, so that you don’t have to. It’s our job to take the headache and hard work out of the equation, to help you find you a lender who is willing to make your investment goals a reality.
Successful loan structuring
Having the right loan structure in place is critical for the long-term financial health and success of your investment property, which is where My Property & Finance comes to the fore. Our mortgage experts have many years of experience arranging and structuring investment loans to maximise cash flow and tax benefits.
Whether you’re a first-time investor or a seasoned veteran looking to expand your portfolio, we’ll listen to your goals and help you develop a robust finance strategy in order to achieve them. Then, once you’ve decided on your ideal property, our lending specialists will make sure your loans are structured correctly, so you can be confident you’re making the most out of your investment.
Finding the right Investment loan
Investment loans can vary depending on what you’re looking to achieve. What works for one investor might not suit another. Investment loans can be simple, like a regular home loan, or a little more complex to help you make effective use of tax and gearing.
The first step to finding the right loan is to decide on your objectives. What’s right for you will depend on both your short and long-term property investment strategy and overall financial goals. Are you planning on holding on to the property long term or are you considering renovating and selling? Is you goal to build a portfolio of investment properties quickly or would you rather focus on investments that will generate income for you in retirement?
With access to 35+ leading lenders, our lending specialists are on-hand to help navigate you through the mortgage maze, to help you secure the most competitive and flexible loan to best suit your investment needs.
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How we can help you!
Provide expert advice and guidance
We’ll discuss your current financial position, requirements and objectives, then we’ll develop a strategy to help you achieve your investment property goals. No matter what stage of the process you’re at, this free consultation is a great way to get started.
Calculate how much you can borrow
After we’ve collected some paperwork and personal details from you, we’ll calculate your borrowing capacity based on your income, expenses, credit history, current savings, deposit and available equity.
Explain all the costs
We’ll explain all the upfront costs, allowing for any application fees, stamp duty, conveyancing, building inspection costs and Lenders Mortgage Insurance (LMI) if you’re borrowing more than 80% of the property value.
Compare lenders and recommend a better investment property loan
With access to hundreds of loan products available across 35+ leading banks and lenders, we’ll compare the most competitive finance options and match you with the investment loan that best suits your needs.
Structure your investment loan correctly
We’ll help you develop a robust investment strategy and structure your investment loan correctly, to maximise cash flow and tax benefits, helping you increase your investment returns.
Organise your loan pre-approval
Our mortgage specialists can organise a pre-approval for you, so you know how much you can afford to spend on your investment property.
Manage the paperwork, negotiations and details
Our friendly mortgage specialists will manage all the paperwork, negotiate and liaise with the lender on your behalf. We’ll also deal with any on-going communication with your conveyancer, real-estate agent and accountant until your loan is approved and settled.
Secure a better Investment Property loan!
Call My Property & Finance on 1300 672 633, or submit your details and one of our Mortgage Specialists will contact you within 24 hours (Mon - Fri) to chat about your finance options.
Like to stay well-informed?
Property Investor FAQ's
Every type of investment has its pros and cons, but there are several benefits to consider when investing in property:
- Property is considered a reasonably secure, long term investment
- You can potentially earn rental income to cover most of your loan repayments
- You may benefit from capital gains if you decide to sell it in the future
- It may provide benefit through taxation and gearing
- It can be a good way to diversify your portfolio if your other investments are limited to cash shares or managed funds
Most of the same types of loans and features are available for both investors and owner occupiers. However, some lenders may charge higher rates for investment properties if the associated risks are higher.
You will need a minimum of between 5 – 10% of the value of the property for your deposit, although this will vary between lenders. Your mortgage broker will be able to give you more information about this.
A pre-approval allows you to determine how much you can borrow and what you can expect to repay when you decide to take out a home loan. Pre-approval is usually subject to you meeting the required terms and conditions of the lender, for example, being able to provide the documentation required and proving you have the deposit.
To apply for a pre-approval, you’ll need to supply basic facts about your finances such as your annual salary, other sources of income, current monthly living expenses, and other financial responsibilities like your credit card limit.
Your lender will also need information about your borrowing details such as how much you’re willing to spend on a property, how much you think you’ll need to borrow, as well as the loan purpose (i.e., if you’re intending on buying a house or building a house, etc).
It is important to remember though that a pre-approval is not a guaranteed loan approval! Rather, it’s a strong indicator of whether you would get the loan. A guaranteed loan approval requires further detail to be submitted, such as full credit check, etc.
A pre-approval is not a guarantee that the loan will be approved. You can still be declined a loan after receiving a pre-approval if you don’t meet the lender’s criteria, which can happen if your personal and financial situation changes, or if the lender finds the property you wish to purchase unacceptable as security. Some of the main reasons for being denied a loan include, but are not restricted to:
- Having a bad credit history – This might result from late payments of phone or utility bills, missed credit card repayment, etc, which can all affect your credit score, and in turn, your mortgage application.
- Having children – the number of dependents you have will affect the amount you can borrow.
- Changing jobs or changes to your income level – A pre-approval is based on your income and employment status at the time of submitting your application, but if this changes it can affect the pre-approval process. Most lenders are okay if you change jobs so long as you stay in the same line of work, however switching your line of work completely or getting a pay cut can lead to complications.
- Accruing more debt – Increasing your credit card and spend up big after applying for a home loan is not going to help you as it will impact the amount you’re able to borrow.
- Interest rate changes – If there’s an interest rate increase, it means the maximum amount you are able to borrow may decrease.
A pre-approval doesn’t include an assessment on whether or not the property is acceptable by the lender, because it hasn’t been found yet. This is why the conditions on the pre-approval state “subject to a satisfactory valuation”.
- Unacceptable properties – Certain properties may not be acceptable to some lenders – including but not restricted to small apartments, hobby farms, certain post codes, etc.
If you have built up enough equity in your property, you may be able to use this as a deposit.
Equity is the value of an asset not subject to any lender’s interest. For instance, a property worth $500,000 with a mortgage loan of $100,000 has equity of $400,000.
Just remember though, having equity doesn’t automatically mean you will be able to access it. Lenders will also assess your application on various factors such as employment, credit history, income, expenses and age.
Sound research can help reduce the risks of investing in property. Buying in sought-after locations, close to transport, schools and other amenities means you’re less likely to have problems finding tenants. You are also more likely to benefit with capital gains down the track.
When you buy an investment property, costs such as establishment fees, solicitor fees and stamp duty can add up. Instead of trying to find cash to pay these fees, consider taking them into account in your borrowings. That means you won’t need thousands of dollars in savings to get started. Find out more on how to minimise your cash outlay and consult with My Property & Finance today.
Landlord’s insurance can cover your investment property against damage or theft caused by the tenant, events such as weather and fire, as well as outstanding rent should the tenant fail to pay. It will also cover you for any death or bodily injury for which you are liable.
A property is negatively geared when the costs of owning it, exceeds the income it produces. If this occurs, you can then use your investment loss to offset the other income you earn, allowing you to claim a tax benefit.
Costs may include interest on the loan, bank charges, maintenance, repairs and depreciation, whilst income is the rent received. Simply put, your investment must make a loss before you can pay less tax.
Your financial adviser/registered tax agent can explain how negative gearing works in detail.