Personal Property Investment Loan

If you're thinking of becoming a landlord, planning is essential to make sure you get the most from your residential investment property.

Key considerations include:

  • You may be able to use the equity in your current home to invest in another property.
  • Earn additional income to pay off the home loan.

At BSP we can help you buy your second home or your investment property.

What do I need to bring with me?
  • Complete an application form;
  • Letter of confirmation of employment & remuneration from current employer;
  • Letter of offer from the customer confirming the purchase price and copy of the state lease;
  • Letter of acceptance form the vendor;
  • Evidence of 30% equity contribution by the customer;
  • Super ID and copy of the latest statement;
  • Copy of Driver's license
  • Salary Deduction Authority;
  • Quotation or invoices for the purpose of the loan;
  • Confirmation of ownership of major assets advised eg; copy of state lease, copy of vehicle registration, must be provided with your application.

Frequently asked questions

How much cash do I contribute as equity when I want to borrow to purchase a residential investment property?

You will be required to contribute 30% of the purchase price of the proposed property as your equity contribution.

Can I walk into any BSP branch and lodge my application for a Home Loan?

Yes you can, walk into any of our Branches and ask to speak to the Personal Lending Officer.

Can I borrow from the bank and build my house on traditional land?

No, you can only borrow from the Bank if are building your home on State Lease Land.