| | Finding out how much you could borrow for an investment property before you start looking will save you time and effort.How much could you borrow? | | How much could you borrow?
The amount you could borrow will vary according to your specific situation. It depends on a number of factors including: - The amount of rent you expect to receive from the rental property
- How much deposit or equity you have in an existing property (if any)
- Your household income
- Your ability to repay your loan (after accounting for expenses).
You may be able to use up to 75% of your rental income to service your loan; this allows for expenses such as rates, maintenance and vacancies between tenants. You could also apply for a conditional home loan pre-approval online or contact us and arrange an appointment. Talk to us about your specific situation. Next step | Leveraging >> For borrowing over 80% of a property’s value, a Low Equity Premium on a graduated scale will apply and a Registered Valuer’s Report will be required. Our lending criteria, terms, conditions and fees apply. This material is for information purposes only. You should seek professional advice related to your individual circumstances. While The National Bank has taken care to ensure that this information is from reliable sources, it cannot warrant its accuracy, completeness or suitability for your intended use. To the extent permitted by law, The National Bank does not accept any responsibility or liability arising from your use of this information. | | | |