Choosing the right investment property mortgage is a very important role when it comes to buying investment property.
You will most definitely be faced with a lot of different lenders and mortgage brokers, and they will all be fighting for your share in market competition.
This is a good thing though, as you can use this to your advantage when shopping for your investment property mortgage.
What To Choose When Selecting The Right Investment Property Mortgage For You: • Flexibility • Competitive interest rates • The ability to make additional repayments • Low establishment fees • 100% offset savings accounts Competitive interest rates are important because although saving 1-2% may not seem like much in the beginning, ultimately it can save you a lot of money.
Try to look for flexibility when it comes to exit fees, early pay out and switching fees.
Remember, lenders are keen for your business.
This puts you in a power of control.
Being able to make additional repayments is an important feature of your investment property mortgage, because anything in addition you make comes off the principal, dramatically reducing the loan period, and essentially, saving you money.
Offset savings accounts are growing more and more popular.
They are more expensive to set up but the amount of interest you save by having an offset facility far outweighs the costs.
You can also use this type of account as a secret weapon toward your wealth building career that you will not find in the text books.
You will definitely find out that there are seemingly never ending fees which incur when applying for investment property loans.
Some of these fees include: • Establishment fees • Refinancing fees • Switching fees Refinancing fees are payable if you refinance with another lender or pay off your investment property mortgage early.
Refinancing can be an expensive business when teamed up with the fees that go with it.
There may also be additional fees, such as valuation fees, or late payment penalties.
Fees seem to becoming a growing area of negotiation between borrowers and lenders, so don't be afraid to ask for a discount when you are applying for your investment property mortgage.
There is no doubt in my mind, and many others; property investment is an exciting, rewarding activity that turns dreams into reality.
Make sure you stick it out, and recondition yourself into becoming a "Whatever it takes" person, because the fact is, if you want to be successful, and not just in property mind you, that you need to be the type of person who will without doubt be the type of person who will do whatever it takes to achieve their dreams.
You will most definitely be faced with a lot of different lenders and mortgage brokers, and they will all be fighting for your share in market competition.
This is a good thing though, as you can use this to your advantage when shopping for your investment property mortgage.
What To Choose When Selecting The Right Investment Property Mortgage For You: • Flexibility • Competitive interest rates • The ability to make additional repayments • Low establishment fees • 100% offset savings accounts Competitive interest rates are important because although saving 1-2% may not seem like much in the beginning, ultimately it can save you a lot of money.
Try to look for flexibility when it comes to exit fees, early pay out and switching fees.
Remember, lenders are keen for your business.
This puts you in a power of control.
Being able to make additional repayments is an important feature of your investment property mortgage, because anything in addition you make comes off the principal, dramatically reducing the loan period, and essentially, saving you money.
Offset savings accounts are growing more and more popular.
They are more expensive to set up but the amount of interest you save by having an offset facility far outweighs the costs.
You can also use this type of account as a secret weapon toward your wealth building career that you will not find in the text books.
You will definitely find out that there are seemingly never ending fees which incur when applying for investment property loans.
Some of these fees include: • Establishment fees • Refinancing fees • Switching fees Refinancing fees are payable if you refinance with another lender or pay off your investment property mortgage early.
Refinancing can be an expensive business when teamed up with the fees that go with it.
There may also be additional fees, such as valuation fees, or late payment penalties.
Fees seem to becoming a growing area of negotiation between borrowers and lenders, so don't be afraid to ask for a discount when you are applying for your investment property mortgage.
There is no doubt in my mind, and many others; property investment is an exciting, rewarding activity that turns dreams into reality.
Make sure you stick it out, and recondition yourself into becoming a "Whatever it takes" person, because the fact is, if you want to be successful, and not just in property mind you, that you need to be the type of person who will without doubt be the type of person who will do whatever it takes to achieve their dreams.
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