Hi easy is it to find a low interest loan for investment property without the attached application fees and not many fees and charges involved with added bonus features of a package with a credit card?

Hi Maria,

These days, it is getting a bit complex, the price differs depending on the followings:
- Deposit to purchase price ratio (if deposit is less than 20%, the rate is likely to be higher),
- Interest only repayments are attracting a higher interest rate too,

In general a basic product without offset account would be what you are looking at, provided the rate is good in comparison to a package.

You really need a broker to help you navigate all of the above issues.

regards

Hi Maria,

You may need to look at a basic loan as mentioned above.

I do have a lender with discounted rate, there is an application fee however, there are no ongoing fees and the offer a fee free VISA debit card.

If you'd like to know more about this product or other options available please click on my name on the top left corner and contact me through my profile.

Cheers,

Umit

Most lenders with any additional benefits are charging an annual fee. If you only need a basic package, then thats great.

What I find is its useful to work with a broker and compare all the fees including interest rate - setup (application - legal - valuation etc) and monthly or annual fees. This way there are no hidden fees later on. The lowest advertised rate is not always the cheapest.

Best rates are 80% borrowing - so if you can secure 20% + costs for your investment property from another lender - especially if under an owner occupied rate - then thats ideal and the lowest repayments.

Maria, Hello and thank you for your question. As you are clearly aware, there are now premium rates in place for investment lending. Even more so, should you wish to consider an Interest Only option. I recommend that you look at some of the fixed rate offers in place at the moment, while the better options will most likely still have an annual fee, you will be obtaining some certainty for a period of time in a very uncertain market right now. Keep in mind that we are still at (or close) to historically low interest rates.
I have access to more than 25 different Lenders, if you would like to view some options suitable for your personal situation, then please give me a call.
Best Regards
Ken Olds
Customers First Mortgages & Insurance
1300 ASK KEN (275 536)
www.AskKen.com.au