What is an investment loan and how does it work?
Property investment loans allow you to borrow money to invest in land, houses, apartments or commercial property. These loans work a bit differently to a home loan for a property you intend to live in. As an investment in property may generate income for you, that income may be factored into your ability to pay back the loan. Investment loan rates are usually higher than home loans, as the risks for the lender are higher as well.
Tips on how to apply for an investment loan
Traditional lenders could have strict eligibility criteria for investment loans. If you don’t meet the banks’ criteria because you’re self-employed or have previous credit issues, Pepper Money may be able to help. We help all sorts of people from those with irregular income - like the self-employed, through to people who have previous credit issues. The process for applying for an investment loan with Pepper Money is simple. We encourage you to have a chat with one of our Lending Specialists, so we can understand your situation and find you the best possible solution.
It’s a good idea to have your documents on hand to help speed up the process:
- Most recent group certificate
- Most recent tax return / taxation notice
- Current letter of employment
- Bank statements – to confirm last 3 months’ salary
If you're keen to get started with property investment, speak with one of our lending specialists on 0800 166 330 or enquire online.