What is an investment loan?
Investment loans are the loans where you borrow money to invest it into the property or something else. It is a mortgage solution for those who want to buy a property but can’t afford to buy the property without a loan. And then rent it out to receive income from it.
With the KPG investment loan option, we allow individuals to invest in any mortgage, property, start-up, business, etc. The permission criteria for investment loans are pretty difficult particularly if contradictory gearing interests are needed to confirm that you can afford the loan.
Investment loans are a usually greater risk than regular home loans and you require being in a strong financial position to qualify. Contact our expert brokers to help you find the best deals for you.
Following is the basic lending criteria which need to follow:
- If you are borrowing more than 90% then some lenders like to see equity in other properties (i.e. this is not your first investment property).
- A good credit history.
- An above-average credit score.
- Stable employment.
Following is the basic lending criteria which need to follow:
- If you are borrowing more than 90% then some lenders like to see equity in other properties (i.e. this is not your first investment property).
- A good credit history.
- An above-average credit score.
- Stable employment.
By and large, the procedure will take somewhere in a month and a half to finish since it’s an extensive procedure and heaps of administrative work included. Notwithstanding, this additionally relies upon how rapidly we get all the fitting administrative work from you and the foreseen settlement time frames
We will keep you updated about your upcoming payments, so you’ll be on time with no stress. This way you will be able to set aside your cash in advance. A good credit profile will always help if you require another loan.
It is a smart thought if your credit score has improved to a level where you’ll be offered a sufficient rate decrease to make up for any loan beginning charges and expenses related to the loan.
