If you are looking to buy your next property, it is important to weigh up your options regarding the size of your deposit, and the equity in your existing property.
Borrowing more than 80% of the value of a property will have you incur mortgage insurance fees.
However, what many people are unaware of, is that the amount you are charged varies greatly, depending on the size of your loan and the percentage which you are borrowing.
If you have an existing property that you may wish to take equity from, it is vital that you speak to someone experienced whom can properly guide you as to your options, and the most cost effective way that you can balance the percentage borrowed on your new property as compared to your existing property.
Jumping in head first without thought can see you wasting thousands of dollars unnecessarily.
So if you are thinking of buying another property, and need guidance as to how to structure both your existing and upcoming home loan, speak to us at Bee Finance Savvy. Call 1300 140 554 or email firstname.lastname@example.org
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