Tuesday, 07th July 2015
When you purchase an investment property, there are quite a few big 'what if' questions to answer:
And the list can go on…
I reassure my clients by being honest - yes, things do happen, but each fear can be counteracted by being prepared.
My first answer is to make sure you have Landlord insurance - a must for any investor.
When you take out your loan, make sure you will be able to cover the mortgage repayments if the interest rates start to rise.
My best suggestion is to simply borrow an extra 3-6 months' worth of mortgage repayments and keep this money in an offset account.
This buffer (or safety net) can then be used when any of the above doesn't go to plan.
Be prepared and you won't be disappointed!
Until next time,
From the desk of Christine.