By Darren Law
Every investor and investment is unique, which is why it is imperative to review your situation before looking for the next investment property. If this isn’t your first property, it is highly likely that we will look to utilise equity in your current property so we will need to dissect every avenue.
We will review up to 50 different lenders and see who are the most suitable for your current and future financial goals. Different lenders have different risk measurements and we always find valuations changing between bank to bank. The variance between valuations can mean substantial financial differences, especially when factoring LMI (lenders mortgage insurance) into the equation.
We’re professionals and we’ve done this many times before. We will help you from the beginning to the end and everything in between. With our experience in banking, lending and policy as an accountant and financial planner, there hasn’t been a situation we have not overcome.
We’re remunerated from the lender when your loan settles, which means we do not have to charge you a fee for our service.
Top 5 tips to look out for with an investment property loan:
- Ensure your existing loans are the best for you (we will review this as part of the process)
- Don’t just go to one lender (ensure you shop the deal, consider alternative valuations too)
- Under your current and proposed loans (what you’re getting and what you’re not)
- Keep things separate! (offset accounts & avoid cross-collateralizing)
- Start the discussions with your broker as soon as possible.
It’s never ‘too early’ to begin these discussions. I couldn’t stress hard enough the importance of good preparation. So many times clients have phoned me to rush through a deal when they knew months beforehand that they were considering buying another property. As soon as it becomes a thought, get in touch and let’s talk some strategy.