Plain English answers
FAQs
The questions Australians actually ask their mortgage broker, answered without the jargon.
Deposits and getting started
- Do I need a 20% deposit to buy a property?
- Nope, that is a myth. You can get started with as little as 5%, and Lenders Mortgage Insurance (LMI) is generally tax deductible over five years for investors. And if you are buying an owner occupied property, there are a number of government grants you could be entitled to.
- I don't earn a six figure salary, can I still invest in property?
- In most cases, yes. If you earn a wage, there is a good chance you can get into the market. The key is strategy, not just income.
- What if I have a bad credit score?
- A less than perfect credit score does not mean game over. We have access to lenders who look beyond the numbers and focus on your overall financial picture.
- I've been rejected by a bank, what now?
- One no does not mean no forever. Different lenders have different lending policies, and we know which ones will actually say yes to you.
- How do I know if I am borrowing too much?
- If the idea of repaying your loan stresses you out, you are probably pushing your limits. I will make sure your investment is sustainable and won't keep you up at night.
Investing and loan structure
- Can I buy an investment property if I don't own my own home?
- Yep. It is called rentvesting: you live where you love and invest where it makes sense, which gives you capital growth and a strong rental yield. It is one of the smartest ways to start building wealth.
- I'm self employed, will the banks even lend to me?
- Definitely. You just need to know which lenders actually understand business owners (spoiler: not all of them do). That is where we come in.
- What is better, principal and interest or interest only loans?
- It depends on your strategy. Interest only loans can maximise cash flow for investors, while principal and interest loans build equity faster. I will help you pick the right one.
- Can I buy property with a partner or a family member?
- Yes, and there are smart ways to structure it so everyone wins (and avoids awkward family dramas). Let's get it right from the start.
Using your super
- Can I really use my super to buy property?
- Yes, you sure can. Self Managed Super Funds (SMSFs) can be a powerful wealth building tool. If you have money in your super, let's chat about whether it is right for you. This is general information only, not financial or tax advice.
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