What banks are looking for in your investment loan application?

These days more than ever, investors need to be on top of their finances when they have investments and are looking to expand their property portfolio.

Here are some tips from our mortgage broker partners about what banks are looking for in your application for finance, with some tips on how to put together the perfect loan application:

·        Banks are primarily looking for consistency and stability in your employment

·        Banks are also concerned with how you conduct yourself on a credit basis.

·        Make sure all your records are up to date and that your living expenses are within reason

·        Banks will need up to 6 months worth of bank and credit card statements

·        Don’t understate your living expenses if your statements will show otherwise

·        If you are self-employed, do not overstate your expenses

·        Disclose all of your assets and liabilities and credit card limits

·        Reel in your spending at least 6 months before your application and do a credit health check

·        If your credit score is not ideal, do what you can to rectify and improve the score.


Need a property loan?

Contact us @ propertyloans@realrenta.com and we will arrange for our trusted finance partner to contact you shortly for a no obligation discussion.

Jason Gwerder
Saturday, 7 December 2019

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