First time investors
Thinking of investing in property for the first time?
Whether you’re starting your property portfolio or investing so you can rent where you want to live, we can help you on your way.
Make your move into the investment property market
Property can be a great long term investment. To help you into your first investment property, we're offering competitive rates together with our investment loan options to open up property doors.
Whether by design or out of necessity, more and more Australians are choosing to buy an investment property as their first property. This means you can get on the ladder with a more affordable property, whilst allowing you to continue to live with your parents or rent where you want to live.
Things to consider:
- Your deposit – you’ll generally need a 20% deposit to get you into your first investment property. If you’re a bit short, you could consider Parental Guarantee or taking out Lenders Mortgage Insurance.
- Upfront costs – many people forget to consider upfront costs such as stamp duty and conveyancing fees. Ensure you factor these into your budget.
- Your cash flow – As a rentvestor, you’ll now be liable for mortgage payments as well as maintaining your current expenses. Although rental income may go some way to your mortgage payments, you may need to top up the payments as well. You may also be eligible for various tax benefits. Your accountant or financial adviser can help you understand this further.
First time investors
Residential property remains one of Australia’s favourite forms of investment and wealth building. If you’re taking your first step into property investment you’ll need to consider whether your strategy is one of capital growth or return, access to any existing equity and the consequences to your cash flow.
Things to consider:
- Upfront costs – you’ve been through the property purchase journey before, so you’ll be familiar with the upfront costs. However this time, you may have access to the equity from your family home that could help you on the way.
- Investment strategy – if you’ve decided to invest in property, you should consider whether you're after rental income, capital growth or a retirement nest egg. Each strategy may influence where you choose to buy.
- Your cash flow – as a first time investor you need to consider that these new mortgage payments will come on top of your existing payments. Although rental income will go some way to your mortgage payments, you may need to top up the payments as well. You may also be eligible for various tax benefits. Your accountant or financial adviser can help you understand this further.
Property and Suburb Insights
A variety of reports are available to help you get the insights you need to make informed decisions.
National and State based reports provide a national overview and regional breakdown including market insights and expert commentary.
We also offer Property Reports for a specific address. These provide detailed information including sales and rental history, estimated valuations and comparable sales in the area.
Things you should know
Things you should know: Credit Criteria, fees and charges apply. Terms and conditions available on request. Based on Westpac's credit criteria, residential lending is not available for Non-Australian Resident borrowers. Offer is not permanent and may be withdrawn at any time. Rate displayed is for Australian residents for Investment Property loans only with principal and interest repayments. This information has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.
*The Bank will apply the fixed rate that is available at the loan settlement date or the date the fixed rate period commences, unless the customer locks a fixed rate in on the loan using our Rate Lock feature. The rate lock fee is 0.10% of the loan amount. At the end of the fixed rate period the interest rate will revert to the applicable prevailing home loan rate less your Premier Advantage Package discount applied to that rate.
^The comparison rate for the Fixed Rate Investment Property Loan is based on a loan of $150,000 and a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rate.
*Premier Advantage Package Conditions of Use. Premier Advantage Package Terms and Conditions apply and are available at westpac.com.au. Annual package fee of $395 applies. Package benefits cannot be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts. You must either hold or be approved for a Westpac Choice account in order to qualify and continue to receive the benefits of the Premier Advantage Package. Applications must also meet our approval guidelines on individual products to qualify for relevant package discounts.
© 2017 Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.