We are thrilled to announce that our investment loans have been recognised with a 5-star rating from Canstar for outstanding value.
MOVE Bank has been named Canstar’s Investment Home Lender for 2022. Receiving this award is particularly important to us, as it reflects the exceptional value we off er to members who are purchasing or refinancing an investment property for loan amounts ranging from $200K through to $750K.
If you are looking to invest in the housing market, we have some tips to help you find the right investment property and loan.
Start with research
Take the time to research about what sort of investment property is the right fit for you. Are you looking for a turn-key apartment or a work in progress? Consider the pros and cons of each option available before diving in. When making your decision also think about how long you want to own the property for, what might be great for a shorter-term investment might not be the right fit for a long-term asset.
Renovate with purpose
If you are choosing to go forward with a work in progress or are keen to put your own unique stamp on the property, make sure you renovate with purpose. Invest money into areas that will increase your rental appeal and add value to the property in the long-term. Often kitchens and bathrooms are popular choices as they are frequently used spaces.
Know the neighbourhood
As they say: location, location, location! Finding a property in a great location can make a big difference in the return you get out of your investment. Take into consideration the average rental yield and vacancy rates for each suburb. Also look at how close schools, shopping centres and public transport are for your tenants.
Find the right finance
When searching for an investment loan there are a lot of options available. It’s important to consider what factors are most important to you such as rates, fees, and flexibility. If you’re chasing a low rate you may not get the full suite of features. Also look into the benefits of an off set account and whether this is something you want access to. Investigating if you can use the equity in your own property to purchase an investment is another path. If you would like to know more, speak to one of our Lending Specialists to explore your options.