Many owner-occupiers don’t think they can afford to invest in property whilst paying off the mortgage on their own home. This is a misconception as there are some great advantages to investing that can make building your nest egg easy.
Lenders tend to look more favourably on owner-occupiers seeking to invest. This is because the equity in your existing home puts you ahead of the game and makes you a safe bet in the eyes of a lender.
It also means you don’t have to take out lenders mortgage insurance and your paperwork and fees will be reduced.
Best of all, you might not even have to put down an additional deposit.
This all sounds great on paper but it’s important to remember there are still risks involved which is why it’s crucial to get professional financial advice before you use your home as collateral.
If you have any questions , reach out and let’s talk.
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