You may be able to use existing equity in a property to purchase an investment property without a deposit. These days banks allow gearing of up to 95% of your properties value in most cases.
If you have an existing home loan and an investment home loan, you may be better of in terms of tax savings to pay of the loan for the property you live in first as opposed to the investment property loan. You can use a interest only loan to maximize the amount available for repayments of the property you live in. |
