Ways to increase your borrowing capacity

Banks have been tightening access to credit for investors but there are ways you can boost your borrowing capacity, even in these testy times!


Here are some tips from our friends in the industry:

·       Trim your lifestyle costs at least 6 months before you apply for credit

·        Do a credit check on yourself to ensure that you don’t have any questions on your file.

·        Address and rectify any problems on your credit file

·        See if there are ways that you can increase your income- find a side-hustle at least 6 months before you apply for a loan.

·        Minimise available credit and claim all your income throughout the year

·        Have all your tax returns up to date and if possible, split liabilities and debts with a partner

·        Move all your debts into your mortgage and use other properties as collateral

·        Save as large a deposit as you can

·        Consider diversifying your borrowing across a range of lenders

·        Self manage your properties using RealRenta to increase your rental income after expenses



If you need help with accessing the right type of loan, contact us @ propertyloans@realrenta.com if you would like to speak with a lending specialist from our trusted finance partner.


Jason Gwerder
Sunday, 3 November 2019

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