Starting or expanding your property portfolio beyond one investment property is feasible with the right guidance and support. Did you know you can tap into your existing equity for a deposit and stamp duty and you could be well on your way. Consulting an expert mortgage broker is a great initial step.
As brokers, we evaluate your financial situation, including income, savings, debt and credit score. We then compare interest rates, loan terms and eligibility criteria across various lenders to ensure affordability.
To boost your chances of investing consider the following:
How can I increase my borrowing capacity?
Reduce debt as much as you can. Don't take out any short term loans such as as car or personal loans. Pay all current debts on time and in full. Reduce your credit card limit, close cards no longer in use and review and reduce expenses.
Should I move to a different lender?
This is certainly worth considering as other lenders may offer a better deal or more borrowing capacity due to policy differences between lenders. There are many pros and cons for "keeping all your eggs in one basket" and these should be regularly reviewed to ensure you are getting a good deal on your mortgage/s.
Get in touch today for an obligation free assessment of your situation!
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