We are proud to reveal that we’ve been awarded by Canstar across our entire investment loan range!
MOVE Bank has taken out two awards in Canstar’s 2021 Outstanding Value Home Loan Awards, recognising the value we offer as an Investment Home Lender and Investment Fixed Home Lender.
About the awards
Each year Canstar identify lenders who provide outstanding value to their customers and assess their products based upon price and features. This year 85 providers and over 3,000 products were rated, and MOVE Bank was found to offer the best value home loan for investors^.
In a highly competitive market, bolstered by government grants, our Complete Package Fixed Investment Loan has been awarded 5-stars across all investment profiles, offering outstanding value to new and experienced investors alike.
Top tips to buy an investment property
Take your time to find a good area
Location is key! Look for a suburb that is experiencing a growth in demand and is not oversaturated. Take into consideration the average rental yield and vacancy rates to find a prime location.
Consider a work in progress
Narrowing your search to turn-key properties can mean you may miss out on a hidden gem. Snagging a property that needs a little fixing up can work out better in the long-run and allow you to incorporate elements that will appeal to the current market. Just be sure to get a certified inspection before purchase to make sure there are no costly surprises!
Know your strategy
Think about what you want from your investment property. Are you looking for something that you can renovate and flip to earn a quick profit, or a long-term asset? This will impact what you prioritise in your property search.
Find a loan that works for you
When selecting an investment loan there are a wealth of options on the market. Consider not only rates but other characteristics such as fees, flexibility, and whether you want access to an offset account.
Prepare for the unexpected
It is important to make sure that you budget for the ongoing costs of home ownership. Things such as insurance, council rates, and any repairs or upgrades required. Setting aside some money as a safety net can ease the burden if something unexpected occurs.
Consider the tenant
Your dream home may not make for the best investment property. Consider who your target tenant is and what they would value, for example, if you’re investing in a family home look for a property close to schools and parks.
^ Awards methodology available at: www.canstar.com.au/star-rating-reports/home-loans/
1 Reverts to Complete Package Variable Investment Loan at the applicable tier, based on the loan funded amount. Minimum loan amount is $100,000 for investment loans.
2 Comparison rate is based on a secured loan of $150,000 for a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Fees and charges apply.
