SearchProperty investment hopes
Maria asks:
(updated on Tuesday, April 03rd 2012)
Our Experts Answer:
It will depend mainly on what available equity you have in your own home. If after pulling out enough for a 10% deposit for an investment property you have less than 10% equity remaining in your own home then it may be unlikely that you will be able to purchase an investment at this stage. Note however, it may be a case of you being with a more conservative bank currently and needing to refinance to one who is more aggressive and will look at your position. Also note that at the higher LVR levels, the banks get more conservative so want higher income capacity, low consumer credit levels and good overall credit history.
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