Considering buying an investment property? Find out how Greater Bank can help you secure a property investment loan. Talk to our lending experts today.
All Home Loans have a base rate. The applicable base rate will depend on whether you select a standard or discounted home loan and also the repayment type you select – Principal and Interest (P&I) or Interest Only (IO).
For P&I loans, margins may apply to the applicable base rates. For new IO loans, currently a 0.10% p.a. margin above the applicable base rates will apply. The base rates are set out below and the all up interest rate which includes any margins, will be set out in your credit contract.
| Great Rate Investment Home Loan - Discount variable rate | Interest Rate | Comparison Rate |
|---|---|---|
| Variable | 6.24% p.a. | 6.25% p.a. |
| Great Rate Investment Home Loan - Variable rate | Interest Rate | Comparison Rate |
|---|---|---|
| Variable | 8.24% p.a. | 8.25% p.a. |
| Great Rate Investment Home Loan - Fixed rates | Interest Rate | Comparison Rate |
|---|---|---|
| 1 Year Fixed | 6.39% p.a. | 8.05% p.a. |
| 2 Years Fixed | 6.09% p.a. | 7.80% p.a. |
| 3 Years Fixed | 6.09% p.a. | 7.61% p.a. |
| 4 Years Fixed | 6.19% p.a. | 7.48% p.a. |
| 5 Years Fixed | 6.19% p.a. | 7.33% p.a. |
All Home Loans have a base rate. The applicable base rate will depend on whether you select a standard or discounted home loan and also the repayment type you select – Principal and Interest (P&I) or Interest Only (IO).
For P&I loans, margins may apply to the applicable base rates. For new IO loans, currently a 0.10% p.a. margin above the applicable base rates will apply. The base rates are set out below and the all up interest rate which includes any margins, will be set out in your credit contract.
| Ultimate Investment Home Loan - Discount variable rate | Interest Rate | Comparison Rate |
|---|---|---|
| Variable | 6.33% p.a. | 6.69% p.a. |
| Ultimate Investment Home Loan - Variable rate | Interest Rate | Comparison Rate |
|---|---|---|
| Variable | 8.04% p.a. | 8.38% p.a. |
| Ultimate Investment Home Loan - Fixed rates | Interest Rate | Comparison Rate |
|---|---|---|
| 1 Year Fixed | 6.39% p.a. | 8.20% p.a. |
| 2 Years Fixed | 6.09% p.a. | 7.97% p.a. |
| 3 Years Fixed | 6.09% p.a. | 7.80% p.a. |
| 4 Years Fixed | 6.19% p.a. | 7.68% p.a. |
| 5 Years Fixed | 6.19% p.a. | 7.55% p.a. |
The first thing to think about is whether you are able to pay off both your current home loan and your investment property.
Make sure you take into account vacancy rates and your current rental market when considering an investment property.
Some other things to keep in mind are that we can generally lend up to an LVR of 80% (loan to value ratio), and you may be able to claim some tax benefits on your investment property.
Yes, you can use the available equity you've built in your own home and put it towards purchasing an investment property. This is a popular way of purchasing an investment property which will result in your having to repay two loans.
If you have any questions about this process, you can chat to one of our helpful lending experts at a branch, or one of our mobile lenders.
Yes, you can. If you are not occupying your home anymore and you intend to lease it out to tenants, let us know so that we can work together and change your loan to one that suits your needs.
To qualify for our Great Rate Investment home loan, you only need to deposit 5% of the property's value with P&I repayments. However, if you want to avoid paying Lender's Mortgage Insurance (LMI) you would need a deposit of at least 20% of the property's value.
If you're wondering if you can afford an investment property, here are a couple of things that you can start thinking about:
Firstly, you will need a deposit of at least 5% of the property's value with P&I repayments, and if you want to avoid Lender's Mortgage Insurance (LMI) you will need a deposit of at least 20%.
Here at Greater Bank we believe in supporting you, so our loans are packed with features to help you succeed. With competitive rates, flexible repayment options, and free online redraws, our loans set us apart from the big banks, and help you get ahead on your investment.
Having a lender familiar with investment properties can make a big difference. Our lending experts are highly knowledgeable and able to support you every step of the way on your investment journey. We're committed to keep supporting our customers and helping them reach their goals.
Our friendly staff are happy to help with all your banking needs. Find a location near you across NSW and South East QLD.
Our mobile lenders are more than happy to come to you. Find a lending expert close to you and request a callback today.
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*Conditions, fees and charges apply to all loans. Subject to meeting Greater Bank's lending criteria.
Greater Bank, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992 Australian Financial Services Licence/Australian credit licence 238273
~At the end of the fixed rate period customers can chose to re-fix their loan for another fixed rate period or let the loan revert to the applicable variable interest rate based on the loan and repayment type.
^Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
#Discounted rates include a discount on Home Loans of $150,000 or over and for owner occupied Home Loans with an LVR 80% or below and for investment Home Loan with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities.
+Additional costs may apply if your loan has a fixed rate.
All new interest-only home loans, attract a 0.10% p.a. margin above the applicable Principal and Interest base rate. All new Line of Credit home loans, attract a 0.10% p.a. margin above the applicable Line of Credit base rate. The all-up interest rate which includes any margins, will be set out in your credit contract. View our Terms and Conditions.
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