It is important to choose the right investment loan to minimise your costs, maximise your tax benefits and manage your cash flow. There is a significant difference between lenders as to how much they will lend. This really depends on a number of factors. e.g.: your income, savings pattern, liabilities. With this in mind it will be able to determine how much you can borrow. It may turn out that you currently cannot borrow what your intentions were to purchase your preferred property but can do so in a few months. By consulting with us at Simple Mortgage Solutions we will be able to do this research for you and then educate you with this knowledge and sound advice on your loan structure.
Fixed Rates Interest Only
Repayments won’t rise even when interest rates do.
Maximum tax benefit. All of the interest repayment is tax deduction.
Minimum drain on cash flow.
A disadvantage with a fixed rate it may incur penalties for early discharge.
Variable Rate
Redraw is available if extra payments are made.
Has more flexibility for further investing.
With interest rates being at a low rate at present, it is a great time to pay more off your loan. So give us a call for a free review.
Fixed Rates Interest Only
Repayments won’t rise even when interest rates do.
Maximum tax benefit. All of the interest repayment is tax deduction.
Minimum drain on cash flow.
A disadvantage with a fixed rate it may incur penalties for early discharge.
Variable Rate
Redraw is available if extra payments are made.
Has more flexibility for further investing.
With interest rates being at a low rate at present, it is a great time to pay more off your loan. So give us a call for a free review.