them to apply to all the banks and assist with the negotiation of your term and interest rate.
• Don’ t be afraid to negotiate and send the proposal back if you are unhappy. We often get better interest rates and terms simply by asking!
9
Register the Bond at or Above Market Value Before you accept the bank’ s final financing offer or grant, request that the bond amount registered be higher.
• This makes it easier and more affordable to refinance and apply for that amount in the future.
• It does not mean you can access those funds immediately, but you can access them in the future when you refinance without having to register a second bond.
10
Refinance to Market Value as soon as you can You can refinance the property you purchased to its new market value in the future.
• Do this as soon as possible. Even if you do not need those funds now, you can park it in your access or flexi bond where you do not pay interest and where it is accessible for future use.
• You may even use these funds to purchase your next property if you are in a healthy financial position.
And there you have it! With these tips from a property investment expert in your pocket, you’ re sure to make a success of your first property investment.
SA Real Estate Investor Magazine FEB 2022 29