What's your strategy?
Before you dive right in with your cheque-book at the ready, take the time to consider whether property is the right investment strategy for you. Weigh up the pros and cons of investment property ownership.
Sure, property provides you with a physical asset, can pay for itself through rent, and is able to provide tax benefits through gearing.
At the same time, consider the risks involved, such as rental income not meeting your requirements, depreciation in value, and the length of time it can take to find tenants and sell-up.
Getting the right loan
See the lending experts
It’s worth your while finding a lender with your best interests at heart. Greater Bank has a range of loans which will allow you to choose from principal and interest or interest-only repayment options.
Range of convenient features
With a range of loan features that will help you maximise the potential in your property, including free redraw around the clock and flexible repayment options, you’ll see why we’ve developed a reputation as experts when it comes to helping our customers buy property.
Compare Investment Home Loans
Our handy Home Loan Comparison Calculator lets you punch in a few simple details and see how our range of Investment Home Loans measure up.
Find the right property
Once you’ve made the right choice for your finance, you can move on to the fun part – choosing your investment property. Keep in mind – you’re not buying for you, so you should try to adopt the mindset of your potential tenant.
Will you buy a house, unit, townhouse, retirement villa? Are you willing to buy cheap and renovate, or do you want the finished product?
Consider things such as proximity to public transport, schools, shopping centres and major new developments, and keep in mind, if there are already multiple properties for rent nearby, the competition will be more intense.
Cover your asset
Once you’ve taken the plunge and secured the perfect place to suit your intended tenant, you should think about getting the right protection so your new asset remains just that.
Greater Bank has partnered with one of Australia’s leading insurers in Allianz to provide our customers with Landlord Insurance, which can be tailored to suit your needs and will provide peace of mind that both property and rental income are protected.
Rent it out
One more decision to make before you pop the champagne. In trying to find the perfect tenant, you have the option of renting your property privately or through an estate agent.
Renting privately means you have the chance to know your tenant and collect 100% of the rent, but you’ll be forced to manage the property yourself. Going with an agent allows them to act as a property manager but at a cost. Most estate agents charge around 10% of the rental income.
After you make your decision, all that’s left is for you to congratulate your new tenants and welcome them home.
Can't quite find what you're after?
Drop into a branch
Our friendly staff are happy to help with all your banking needs. Find a location near you across NSW and South East QLD.
Can’t make it to a branch?
Our mobile lenders are more than happy to come to you. Find a lending expert close to you and request a callback today.
Get in touch
Speak to our contact centre
Monday to Friday 8:00am – 6:00pm AEST.
Saturday 8:00am to 1:00pm AEST
*Conditions, fees and charges apply to all loans. Subject to meeting Greater Bank's lending criteria.
Greater Bank, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992 Australian Financial Services Licence/Australian credit licence 238273
++ $2,000 cashback for loans ≥$250,000 with LVR of less than or equal to 80%, or $3,000 cashback for loans ≥$500,000 with LVR of less than or equal to 80%,. Applications must be submitted by 31/05/2024 and funded by 31/08/2024. Only one (1) Cashback Payment per eligible loan, and for first eligible loan only. Not available in conjunction with any other promotional payment. Offer may be varied or withdrawn at any time. See the full Cashback Offer Terms and Conditions. Terms, conditions, fees, charges and credit criteria apply.
~At the end of the fixed rate period customers can chose to re-fix their loan for another fixed rate period or let the loan revert to the applicable variable interest rate based on the loan and repayment type.
^Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
#Discounted rates include a discount on Home Loans of $150,000 or over and for owner occupied Home Loans with an LVR 80% or below and for investment Home Loan with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities.
+Additional costs may apply if your loan has a fixed rate.
All new interest-only home loans, attract a 0.10% p.a. margin above the applicable Principal and Interest base rate. All new Line of Credit home loans, attract a 0.10% p.a. margin above the applicable Line of Credit base rate. The all-up interest rate which includes any margins, will be set out in your credit contract. View our Terms and Conditions.
FASTRefi® is a registered trademark of First American Title Insurance Company of Australia Pty Limited ABN 64 075 279 908.
Rate City Gold Award 2024, see http://ratecity.com.au/home-loans/awards for more information