How OneDoor Finance Strategies Protect Your Home
Our finance strategy is simple: Use the capital in your family home without using your family home as capital. How does that work I hear you ask? Let me explain...
You worked hard to save up a deposit for your family home, and you have probably been paying it off for at least a couple of years. While you may still owe the bank a substantial sum, you own more than you realize already.
Add up your initial deposit, the repayments you have made so far and the increased value of your home since you purchased it – the sum will be surprising, especially if you have been paying off your home for 5 or more years.
The total value that you already own in your home is likely far more than you need for a deposit on another property – this makes you an ideal candidate for a long term property investment strategy. You’ve done the hard work, now you can watch your assets grow to build an early retirement nest egg.
The Key Elements Of Our Investment Strategy:
- We use 2 different banks. We borrow the deposit from your first mortgage and use it to negotiate a loan through another lender, keeping them separate.
- Disclosure laws mean that the second bank has to undertake a property evaluation and inform us if the value is 10% less than the purchase price.
- By using a second lender we secure a free property evaluation for additional security
- Your home is protected, because the loan on your first home is entirely separate from your investment property loan, which will be paid by your tenant
The Financial Services We Provide
- Financial Situation Review. OneDoor will review your current financial situation to ascertain whether you are in a position to purchase an investment property now or at some stage in the future.
- Finance. OneDoor will arrange a suitable mortgage for the property through a beneficial financial institution without putting your family home at risk.
- Tax Variation Lodgement. OneDoor will organise the lodgement of your yearly tax variation.
