Mortgage & Finance

Getting your investment loan application over the line

Investing in property is a substantial financial choice, particularly in today’s more stringent lending climate. To improve your odds of securing an investment loan, we’ve compiled investment loan application insights from Coronis’ Financial Services Director, Peta Siebert.

Tip 1: Transparency and Honesty

Verification and documentation have become paramount in loan applications. Peta underscores the shift from minimal documentation to thorough verification of income, deposit, and expenses. Full transparency with your financial advisor is essential to prevent surprises during verification. Concealing information could lead to a declined loan, impacting your credit report and future applications.

Tip 2: Define Investment Goals

Investment decisions shouldn’t be emotionally driven. Peta advises defining your investment goals across different timeframes (1, 3, 5-10 years). This guides your broker in selecting loans and structuring them to match your short and long-term financial needs, avoiding future complications due to rushed decisions.

Tip 3: Sufficient Capital

Having ample capital, whether through equity or savings, bolsters your prospects. A deposit of 20% or more reduces the loan-to-value ratio (LVR) to 80%, potentially eliminating the need for lender’s mortgage insurance. This significantly heightens the success prospects of your investment loan application.

Unlock the potential of your investment loan journey with the guidance of experts like a Coronis broker, elevating your prospects within the current lending landscape.

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