There are lots of investment loans available on the market. How do you find the one that best suits your needs, though? That’s where we can help, so call Kiwi Mortgages today.
We will look at the investment plan you have, including the type of investment and when you expect to make a return. We will also look at your personal circumstances. With this information, we can give you advice and help you decide which investment loan product to choose, plus we will handle the paperwork and the application process.
Get in touch with us today to find out more.
Why Choose Us?
- Loan options available for a variety of investment property loan
- Variable payment terms and interest rate options available
- Expert advice from financial advisors with experience in property investment loans
- Excellent customer service and communication
Get the Right Advice, Make the Right Choice.
- Get the right advice – from our highly experienced team
- Make the right choice – get an investment property mortgages suitable for your needs with the lowest possible interest rate.
Make an appointment to discuss your investment property loans options today by calling 0508 33 22 11.
Assuming you have sufficient equity in your existing property or properties, the lender may consider providing you funding for you to purchase the investment property, without any cash contribution from you. However, please note that lender’s assessment would not just be limited to availability of equity but will include full assessment of the application.
Any lending application depends upon the lender’s lending criteria and remains subject to lender’s assessment of the proposal.
Accordingly, at a high level, the assessment for an investment property loan, as a minimum would include, reference to your credit file, scrutiny of your bank statements, availability of equity, if any and your servicing ability of the proposed lending.
Equity is calculated on how much your bank will lend you based on your existing property’s current market value and the amount you still owe on your home loan. The banks have a different policy for the maximum lending amount against owner-occupied properties and rental properties.
As an example:
1- If the value of your current owner-occupied house is $1,000,000, the bank will lend you up to a maximum of $800,000 (80%) and if the amount you still owe is $500,000… then your equity is $300,000.
2- If the value of your current rental property is $1,000,000, the bank will lend you up to a maximum of $600,000 (60%) and if the amount you still owe is $500,000, then your equity is $100,000.
However, if you are proposing to purchase an investment property which is under construction or is a newly built property, the banks may consider your proposal at less than 40% deposit or equity. Speak to the bank or a financial adviser.