My bank has mentioned that I need to pay a break clause, what does this mean? If you have committed to your bank for a set period of time to pay an agreed interest rate and then you decide to cancel (or break) that agreement, then you MAY be charged an early repayment fee. This covers the bank for any loss they may incur for cancelling the contract.
How can I buy an investment property when I’m still paying off my primary mortgage? By leveraging off the equity you have in your family home you can fund the deposit to purchase an investment property. You need to be able to service the new and existing debt and have enough equity which is currently 40% if buying an existing house or 20% if buying a new build.
Is there a catch when a bank offers you 'cash-back' to switch mortgage providers? No, but you will be required to sign an undertaking that you will stay with the new bank for an agreed period of time or the bank may request repayment of the cash-back contribution.
I'm thinking about buying a leaky property but the bank has said they won't lend me any money. Is there anyone else I can approach? Yes. I have access to lenders who specialise in these types of projects.
How can I take advantage of the current low interest rates? By talking to me! Having access to a wide range of lenders and the ability to negotiate on your behalf, I'll make sure you get the best possible deal.