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Six Steps to Buying or Building your First Investment Property!

By the end of these simple steps you should know everything you need to know to confidently purchase your investment property. And I’ll save you a lot of time by doing a lot of the hard work for you. Step 1: Find out how much you can borrow Getting an idea of how much you can borrow is the first step to buying an investment property. It gives you a general idea of your target price range, so you can narrow your property search within your purchase budget. Lenders will also consider the potential rental income you will get from the investment property when calculating how much you can borrow. To receive a free detailed assessment of your borrowing capacity talk to Holly Rogers at any time. S

Should I break my current Fixed Rate?

With interest rates at an all-time low, a lot of people are thinking about breaking their current fixed rate to reset at something lower. This is effectively breaking the contract you have signed with the bank, the benefit on the face of it appears obvious for the borrower, stop paying an old fixed rate above 4.00% and start paying a new rate of perhaps 2.79%. When the bank loaned you money fixed at 4.50% for three years say, they borrowed money from the money markets for a fixed term of three years at a rate which was probably close to 3.30% (the difference being their margin, which is how they make money). The bank cannot go along to the money markets and give this money back, they can onl

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