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Frequently Asked Questions

There are few differences between what you need to do to borrow for a property you'll live in and for one you'll rent out. Some lenders charge a higher interest rate for investment properties because their risk may be higher. But this may not necessarily be the case.

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1.  Will an investment loan be any different to my existing loan?

There are few differences between what you need to do to borrow for a property you'll live in and for one you'll rent out. Some lenders charge a higher interest rate for investment properties because their risk may be higher. But this may not necessarily be the case.

If you're unsure how an investment loan would potentially impact your financial circumstances, your local Mortgage Choice broker can help you to explore the implications.


2.  What's positive gearing?

You can also positively gear a property. This occurs when the investment income exceeds your interest expense (and other possible deductions). Note that you may be subject to additional tax on any income derived from a positively geared investment.

You should also consider any other costs involved when deciding on your investment property strategy. To discuss this further, find out more from your local Mortgage Choice broker.


3.  Should I consider a loan?

A loan will allow you to borrow money from a bank, building society or other source, but remember that you'll be charged interest on your repayments and run the risk of not being able to manage your debt. Read more in our beginners' guide to loans.


4.  Can I top up my home loan?

You can apply to top up your home loan. The minimum amount you can apply for is $20,000.To qualify for a top up you'll need to have enough equity in your property. You are likely to have equity because the value of your property has risen.


5.  What can I use a personal loan or a Get Set Loan for?

You can use a Personal Loan or Get Set Loan for a range of personal purposes including buying a new car, going on a holiday or consolidating your debts.


6.  Can I get a loan advance?

Yes, loan advances may be made for business or investment purposes other than to purchase renovate or improve residential property.

Construction Loans

Building your own home? You need a construction loan to make your dream a reality. Call Reliance Home Loans for a consultation.

Debt Consolidation

Need to get your debts in control and streamline your payments? Call Reliance Home Loans for a consultation.

First Home Buyers

Ready for your first home? Make sure you do everything right. Call Reliance Home Loans for a consultation.

Investment Property Loans

Planning to buy an investment property? We can help with the loan as well as investment advice. Call Reliance Home Loans for a consultation.

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