Has your investment loan interest rate increased? Don’t be ripped off, get an investment loan reviewIf your investment loan rate has recently increased or it has been a while since you had it reviewed you may want to get an investment loan review to check if there are any better options available.
What is going on with investment loans?If you have been ignoring the chatter in the media about property prices and investment lending you may not be aware that the Government Banking Regulator (Australian Prudential Regulatory Authority or APRA) has been putting pressure on the banks to curb their investment lending if they have their investment loan books growth above 10%.
The offending banks and even some banks that were not above APRA’s 10% investment loan growth limit have responded in a number of ways:
- Raising their investment loan interest rates including for existing variable rate investor loans;
- Changing their borrowing power calculations to make it harder for property investors to qualify for a loan;
- Limiting investment loan to value ratios to lower levels; and
- Decreasing their interest rates for owner occupied loans to encourage more owner occupier borrowers and even out their loan books.
Are there still good investment loan interest rates available?Yes,there are still good investment loan interest rates available! Not all lenders have exceeded APRA’s 10% investment loan growth limit and some lenders are still actively competing to get your investment loan. These other lenders are still offering competitive investment property interest rate, fee and feature packages.
As property investors we know how important it is to have a competitive interest rate on your investment loan. If you are paying more interest than the rental income, negative gearing may make up some of the difference but even with negative gearing you are still paying money out of your own pocket. This can impact on your ability to make further investments and or your lifestyle. Lets face it no one want to pay more than they need to on their loan, least of all property investors who are investing to make money.
Are higher loan to value ratio investment loans still available?Yes, higher loan to value ratio investment loans are still available! Some lenders are also still offering higher loan to value ratio loans 90% or up to 95% LVR exclusive of lenders mortgage insurance for investment properties.
Investment loan review – FreeIf your investment loan rate recently went up then you should get your investment loans reviewed by one of our finance professionals that understand investment loans. Oak Laurel has mortgage brokers that know which lenders have the good investment loan rates now. Or brokers can assist you to switch your investment loan portfolio to where there is a better loan package from another lender. If you have one investment property or many investment properties, our investment loans specialists will review your loan portfolio to identify if they can get you a better loan or loans. If you also have an owner occupied home loan(s) our finance professionals can check to see if there is something better available for that also.
We will not charge you for the review. If we cannot find any better options then there is no loss to you. However, you can be confident that you are not being ripped off. If we can find you better options then it could save you a lot of money.
Don’t delay act NOW!
Oak Laurel – Investment property loans made easy!
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