DONT FORGET … if interest rates go up without a corresponding increase in your income, your borrowing capacity will go down.

Buy when you can afford it and sell when it achieves your pre-determined investment goals.

Overcommitted owners sell at firesale prices. Everyone else just waits for their price to be achieved. I’m certainly not going to sell my house/s cheaper than I paid for it…that is the mugs way to loose money fast. Meanwhile, the rents just keep coming in.

My advice is “Just make sure you are getting INDEPENDANT valuations” either through the lender or pay for one yourself if your lender do not propose to do a val. Your best protection is to accurately know the value of your property today so you know your bottom out figure should things go wrong tomorrow.

Regards
Tony.
My comments may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Age matters to some and not other lenders. I’d be asking myself the same questions. I have refinanced a deal with two pensioners, aged 62 & 67 as a 40 year loan. They were able to service the low value debt by about $2.00 but we got the loan. Obviously I had many more details than you have supplied, but if they’ve got such a big deposit and $100K income, why won’t the banks deal with them?

Regards
Tony.