Hello,
When trying to work out calculations on the potential of a property (I currently have none but aim to change this!), I have been basing my interest payments based off of 4.5% as a broker advised that would be a good estimate for me to work off based off of current products. I just want to see whether in your opinion this is a good estimation.
Thanks
Somewhere between 4.5 and 5 would be right. All depends on the LVR and loan amount.
For longer term planning I’d use a rate of 7 percent
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
The historical average for rates over the last 30 years is circa 7.5%, so if you work back from this as a worst case and then compare against the reality you’ll have a good understanding of where the property sits on the risk/reward spectrum.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
+1 to Corey
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