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Why use Mortgage Advisers
Useful websites
Specialist Mortgages
The role of the Solicitors
Loan types and finance structure
Finance costs
Investors checklist of items
Finance Process
Property management
Purchase costs
The purchase processes
Location and Property Types
Ownership structure
How do I get started
Who invests in property
investors
Finance costs
There are some costs that will/may be associated with arranging your mortgage as follows:
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Up to $500 may be charged by the lender, however by applying through Beyond Mortgages this can be negotiated |
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If a valuation is required this will cost approximately $700-$1200 |
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Low Equity Premium or Low Equity Margin |
Please be aware that in most cases where a lender is lending over 80% of the property value. Lenders charge a Low Equity Premium (LEP) this can be a one off cost and in most cases can be capitalised on to the loan or paid for by cash. Low Equity Margin (LEM) is where Lenders can add a margin to any given interest rate for any lending over 80%. If LEP or LEM is required it does not provide the borrower with any form of insurance protection. It is enforced by the lender to allow them to lend you a higher than preferred LVR (loan to value ratio) on a property. Ask your adviser for a more in depth explanation.
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