Securing Finance To Invest In Residential Property
Embarking on a new investment venture can be both exciting and scary - after all, purchasing property is a large commitment that requires the utmost concentration.
Choosing a financial strategy that is responsible and effective is one of the most important considerations for such a project.
It is recommended that you seek the advice of a professional mortgage broker to ensure that you secure the most favourable terms from your lender and adopt an achievable payment plan.
While residential investment loans are now virtually the same as owner-occupied home loans, there are additional types of loan products that are particularly beneficial for investors.
For example, borrowers who can afford to pay a large lump some may wish to adopt an option that allows them to pay the interest in advance.
This allows investors to pay interest that will accumulate on their loan over the next year before it is actually charged.
The advantage of doing this is that it enables borrowers to claim the costs against their tax a year earlier than they would normally be able to.
Lenders may also offer investors a discount on the fixed interest rate if they pay in advance.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.