Mortgages and property investment

Paying off your mortgage Considering an investment property? Commercial lending Rural lending

Paying off your mortgage

You've probably been paying off your mortgage for years now and though your income has increased, so have your outgoings. Therefore you may have rejected the thought of increasing your mortgage repayments.

What you might not realise is how very small increases to your mortgage repayments can make a huge difference to the amount of interest you'll end up paying. You could also pay your mortgage off years earlier. Check out our mortgage calculators and run some figures yourself - you may be surprised at how much you can reduce your mortgage by. Also check out our tips for saving on your mortgage.

Do you have a budget? Doing a family budgetis a simple way of seeing where your money is going and making sure you're happy with where you (and everyone else) is spending it. Doing a budget can help you get a real sense of what you can and cannot afford and help you reach your financial goals more quickly. Make sure you also check out our tips on saving - and perhaps consider adding a little of these savings to your mortgage repayments.

Considering an investment property?

If you choose to invest in property, you need to be aware that it is a long-term "ownership" investment. In general, property should be held for seven to 10 years in order to obtain the optimum return.

Consider also that property is an "all or nothing" investment. You can only buy and sell a whole house. If you require some of your capital investment back, there's no way you can sell the equivalent of just a chimney or a single room... unless you're investing through a managed fund or syndicate.

You should also bear in mind that your investments should always be diversified. If you own your own home and are thinking of buying another property to rent out - consider whether this will mean all your eggs are in one basket. What would happen if the property market crashed? It's always best to make investment decisions after looking at the alternatives and weighing up your options.

Commercial lending

An AMP Adviser can provide you with advice on the purchase or re-financing of a retail, industrial or commercial property, and give you access to a range of lending options.

Rural lending

If you're purchasing your first farm, re-developing an existing farm or purchasing new equipment or stock, our rural lending specialists can discuss all the options with you.

Contact us to talk to an AMP approved lending adviser.

The content on this website is for information only. The information is of a general nature and does not constitute financial advice or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. While care has been taken to supply information on this website that is up to date and accurate, AMP does not give any guarantee of accuracy or reliability. Click here for our full Terms & Conditions.