So I'm considering buying an investment property. We plan to borrow 100% using our existing property as a security. However, this isn't an issue with cash flow - it's just for tax purposes (we'll likely reduce our existing loan to do this. In Australia, interest on investment properties are tax deductible whereas your own home isn't).

I'm also on the lookout for a different job. My job right now is secure and high paying but I've been there for years and I just want to move to do something different.

My question is, should I wait till after I get the investment property to get a new job? Will this affect my ability to get the loan? Is the bank manager going to see that I've just begun a new job as a warning sign?

  • I believe, as is the case in the US, that as long as your "life changes", new job, new home, new investment, whatnot, occurs within the same fiscal tax year, then the order often doesn't matter, you still get any credits, deductions and rates you were going to get; you might check with a tax professional in your jurisdiction to better have certainty on it, good luck – GµårÐïåñ Jul 10 '17 at 0:08

As usual, your mileage may vary. I recently bought a property and we discussed this subject with our mortgage broker. In our case, we were told that changing jobs would prevent us from getting a mortgage for the full duration of the probation period on the new job. This is in the Montreal area (Canada).

I recommend you ask the question to a mortgage broker / advisor in your area.

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