8 Strategies to Increase Your Serviceability

I’m always happy to pass on great info...and this is great info! I’ve included a few snippets below lifted from the full article.

We’ve all heard that APRA’s restriction has caused the banks to tighten the screws and make it harder for many investors to get a new loan of refinance their existing loans. But the availability finance is the lifeblood of every property investor, giving them the means to leverage into real estate with other people’s money and manage all the ongoing costs, including monthly mortgage repayments, management fees and maintenance bills.  

With today’s low interest rates and subsequently cheap debt, many investors are currently finding themselves in a fairly favourable cashflow position, even if they started out heavily geared in high growth assets.

So here are eight strategies to make sure an invisible serviceability ceiling doesn’t stop you from growing your property portfolio in the future…

1. Cut back on any credit you don’t need. 

Even if you have a credit card with a limit of $10,000 that’s never been touched, the banks will count this as a liability when it comes to assessing your serviceability.

Do you need more detail on this subject? Head on over to the full article https://propertyupdate.com.au/8-strategies-increase-serviceability/ for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts [email protected]; or call me on (0403) 296-221.

Thanks,

Tammie