While one in six future first time property investors would drop out of the market if interest rates rose another half a percentage point, one in eleven could keep making repayments even if there were large rate increases, according to a survey of people intending to buy investment properties in the next two years.
The findings of the survey conducted by Mortgage Choice also found many potential investors were willing to make cut backs to buy an investment property.
A quarter of respondents cited basic living costs as their biggest concern, with 68 per cent planning to cut back on day-to-day spending to help finance their investment property. [Read more...]
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