11 Apr 2024 Podcast: Q & A – Pt 1: Buying investment property 2 & 3, income, equity and more!

Welcome to our latest Q&A episode, where we tackle four insightful questions sent in by one of our clients.

In this episode we explore the concept of making extra repayments on an investment loan with an offset account. Does it make sense to pay more into the loan account if you already have funds in the offset? We discuss how this may change whether your loan is interest only or principal and interest.

We provide some tips and tricks for presenting a strong loan application for a second or third investment property, even if there have been changes to your income, such as a career switch or role change.

We also discuss some real-life scenarios where clients faced similar challenges with income fluctuations and how we successfully navigated these situations to secure favorable outcomes.

And finally, we delve into the likelihood of lender approval for a client whose income is variable due to a split between base salary and commission. Would regular increases in savings influence a lender’s decision when seeking approval for a second investment property? And how would using existing equity change this?

Stay tuned for Part 2 of our Q&A episode, where we’ll address the remaining questions from our clients and provide more expert insights into all things property and finance.

Find out your next step in property finance:

You Have My Interest is brought to you by Everlend, a mortgage and finance broking firm built for the purpose of educating and empowering you to make informed financial decisions tailored to your wealth goals. Find out more and book in your free initial consultation at
https://www.everlend.com.au/

There’s plenty more great content to come … so make sure you subscribe now on Apple Podcasts or Spotify so you don’t miss a thing.

You Have My Interest is brought to you by Everlend, a mortgage and finance broking firm built for the purpose of educating and empowering you to make informed financial decisions tailored to your wealth goals. Find out more and book in your free initial consultation at ​​https://www.everlend.com.au/

Get in touch:

Find out more about You Have My Interest at everlend.com.au/podcast and connect with us at podcast@everlend.com.au

You Have My Interest provides information and educational content relating to mortgages, finance and property. You Have My Interest‘s content is general in nature and does not take into account the individual financial, legal or tax needs or objectives of its audience members.

It is not intended as a substitute for professional advice. Listeners should seek out a licensed professional to discuss their individual financial, legal and tax requirements.

If you need mortgage or finance advice tailored to your own personal situation, contact Everlend today for a free consultation. Everlend are authorised credit representatives of Loan Market Pty Ltd, Australian Credit Licence number 390222.

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