FAQ

Investing in property?

Want to grow your property portfolio with assets that can provide you with a regular income and potential tax benefits? This page gives you a summary of the main things you need to know.

There are numerous factors that influence your capacity to purchase an investment property including your income level & composition of income, your existing liabilities, your potential rental levels, and your allowable tax deductions. Please call us on 0416 22 50 54 to get more information or go to our loan enquiry form and we will contact you to start assessing your situation and investing potential.

Can I use my existing property to purchase an Investment?

If you currently own a property you may be able to use your existing equity to assist in purchasing a new investment property. If you have sufficient equity you also may be able to arrange a loan to cover all costs taking away the need to make any contribution of your own. Excellente Finance is able to assess your situation to determine your capacity. The potential rental income from your new investment adds to your existing income so you may not have to earn a large salary to be able to get into the investor market!

What if I can’t afford my dream home yet?

Are you looking to enter into the property market yet don’t quite earn the income required to get your desired property? You might want to consider making your first property purchase an investment property. There may be advantages for you as potential rental income on the purchase may be used and different lenders also can take future tax concessions into account. This could make your borrowing capacity much higher and allow you to purchase a more desirable property now, which you could keep as an investment or move into at a later date.

The first home owners grant however is generally not available for investment property purchases, however there are certain situations when you can claim it so please talk to us about this.

But what about this negative gearing and other tax concessions?

An additional bonus of investment property is that tax deductions may be available to you. In general, you may be eligible to generate a tax concession on any losses incurred on the ownership of investment property.

With Excellente Finance you benefit from extensive tax and accounting experience so that we get your setup correct right from the start, without having to consult with external parties! No information gets”lost” or not “handed over”, as the necessary expertise in both mortgages and accounting rests with the same person, Marianne Welzel.

But what if my job is only casual or part time? 

Different lenders allow us to utilise your income in different ways. Some lenders allow 100% of your rental income to be used. If you don’t yet have rental income but your main income fluctuates, then some lenders will still accept this if presented in the best way. Also there are lenders who allow us to include your forecast tax concessions in assessing serviceability. These differing factors between the banks can determine how much they will lend you. Excellente Finance is on YOUR side when determining and assessing how we can best utilise every single aspect of YOUR unique circumstances, to YOUR advantage!

Should I refinance?

You may be tired of making one mortgage payment for your first mortgage, and another payment for your second mortgage. Perhaps it’s time to reduce your current interest rate to a lower fixed or adjustable rate, or maybe you have an adjustable rate that you want to convert into a fixed rate mortgage. You may want to cash out some of your equity, or lower your overall mortgage payment. Refinancing may also allow you to get rid of private mortgage insurance (PMI) if you now have 20% equity in your home.

OR you’re ready for the next property… To talk about the endless possibilities, please call me NOW on 0416 22 50 54

Can I refinance for no cost or low cost?

Absolutely. With the wide variety of loan programs available at Excellente Finance, you may very well be able to refinance your existing loan at minimal cost to you. You may see immediate savings, and you won’t have to sacrifice your bank account or equity to get a great rate. Many people have taken advantage of our low cost refinance programs. Why shouldn’t you be one of them? Ask me about our flexible financing options, and how we can best move you forward in the property & wealth area!