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If you have equity in an existing property, like your family home or another investment property, you may be able to use this as a deposit rather than having to save cash.

Simply put, home equity is the difference between your home’s value and the amount you still owe against it. Equity can be built by paying off your principal (the amount you’ve borrowed) or your home value increasing (either through home improvements or market changes).

Chat with the team at MortgageDesign to learn more about this option.  

When talking hundreds of thousands of dollars, a fraction of a percent change in interest rate or repayments can save you valuable funds! In saying that, life is not all about money so it’s best to borrow with the lender that will result in the most savings across the long term. The team here at MortgageDesign are experts when it comes to first home loans and can talk you through all of your mortgage questions.

To buy an investment property, you’ll need at least a 40% deposit. This is a different requirement when you’re buying a home to live in.

However, if you have equity in an existing property, like your family home or another investment property, you may be able to use this as a deposit rather than having to save cash.

Chat with our team of property investment experts for deposit advice.

When buying an investment property, there are other costs in addition to the purchase price of the property that you will need to consider. These may include:

• Building and pest inspections
• Strata inspection report
• Loan application fee
• Disbursements
• Lenders Mortgage Insurance (LMI)
• Survey report
• LIM report
• Refinancing or switching fees

The team here at MortgageDesign can assist you in determining which of these costs might apply to your situation.

If you intend to flip a property (buy, renovate, then sell at a profit), you’ll need to be aware of tax implications like the bright-line test.

Several years ago, to slow down the booming property market and stop prices from rising too quickly, the Government introduced a ‘bright-line test‘. This test determines if you have to pay tax on profits if you buy and sell a property within a certain time frame.

When creating your property investment strategy, we can put you in touch with a tax expert who can help you figure out if this applies to your circumstance.

We’ve been through the journey of property buying many, many times, with many, many borrowers from every walk of life. We can help you through the whole investment process and talk you through all the details – not just obtaining the loan! Property will most likely be your largest financial investment so you want to make sure you spend your hard-earned money wisely. As mortgage brokers, we also have more options available to us when it comes to finding a mortgage solution. Lenders have very different lending criteria, so you may be selling yourself short by only talking to one of them!

The best way to start is by getting your finance pre-approved. Chat with one of our mortgage advisors at MortgageDesign to get the ball rolling.

We’ll work on your behalf to secure pre-approval from the right lender, negotiate the interest rate and finance terms, and talk you through creating your property investment strategy.

If you’d like to find out more about how we can help you begin your property investment journey,