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Recent statistics show that home loans have recently reached an all-time high. But it’s not homeowners and first-time home buyers who are driving these numbers – it’s investors and refinancers.
If you’re looking for an investment mortgage, here are some of the top rated home loans for investors in July 2020, based on their real-time ratings â„¢.
Ratings are correct at time of posting. Please note that lenders may swap places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.
Some of the best variable investor home loans
Australian Bureau of Statistics (ABS) figures for May 2021 show that while the number of first-time home buyers in Australia has fallen for the fourth consecutive month and homeowner loans have seen only monthly gains moderate, investor lending was found to have reached its highest level since June 2015.
Some of the best 3 and 5 year fixed rate investor loans
Many large banks have started to raise rates on their fixed home loans, in anticipation of an RBA cash rate hike slated for 2024 (although some predict it could happen as early as 2022). While it might not be as easy for investors to get a low interest rate as it used to be, there are still affordable mortgage options available to investors, both for fixed terms of three. and five years.
3-year fixed investor mortgage
Real estate loans for 5 years fixed investor
Some of the best investor loans
Recent closures in several Australian capitals have seen several banks and other mortgage lenders reintroduce financial relief options for eligible customers. While freezing your mortgage may offer you much-needed respite if your income is affected by the COVID-19 crisis, capitalizing your interest in this way could make your loan more expensive in the long run.
An alternative option is to switch to interest-only repayments for a limited time. You won’t be reducing your loan principal, so you won’t be about to pay off your property, but your monthly payments will be lower and you won’t capitalize your interest.
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