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.
Where to apply?
You can visit the BSP Home Loans Center if you are in Port Moresby. Or you can speak to a Personal Lending Officer or a Branch Manager at your nearest local BSP Branch.
What do I need to bring with me?
- Complete an application form;
- Letter of confirmation of employment & renumeration 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.
For more information
Refer to the Personal Property Investment Loan FAQ and Personal Property Investment Loan Checklist below.