These are standard Principal and Interest loans with structured repayments through the term of your loan. You can select terms between 1 and 30 years.
Benefits to you: - At the end of the term you have paid off the entire principal.- Budgeting is easier because you pay a regular repayment amount (subject to interest rate variations) - You choose either a fixed or floating interest rate or a combination of these options.
Over the term of the loan (usually 5 year maximum) you repay only interest. The principal is repaid in full at the end of the loan term. This repayment is usually achieved by converting to a Principal and Interest loan. Interest only loans are great when you require short to medium term finance for residential investment property or if you are buying one property before selling another.
Benefits to you: - Loan repayments are less than those for a Principal and Interest loan.- Payments of a regular amount each month make budgeting easier.- Floating and fixed rates are options.
Also known as Revolving Credit. This type of loan is similar to an overdraft facility. A limit is approved at the outset and you have the flexibility to repay and redraw funds whenever you wish, without penalty.Benefits to you: - A fully transactional account, so it is easy to access funds by cheque, EFTPOS or internet banking.- Borrow up to the pre-approved loan amount at any time.- Maximize interest savings by crediting all surplus funds and then draw on them when you need to. - Consolidate your debts into one loan account.- Competitive floating interest rates are typically considerably lower than credit cards or hire purchase agreements.Discipline is necessary for this facility to work for you - if you have it, Flexible Loans can save you dollars.
A variation of the standard Flexible Loan which incorporates a redraw facility but has a reducing limit. This limit reduces in line with the standard debt repayment of a 25 year term loan. Therefore the borrowing limit reduces over time. Any additional payments are available for redraw up to the current limit.Benefits to you: - All the transactional benefits and flexibility accorded to a Flexible Loan.- Ensures total loan repayment within the original term.
Customise your loan between the different types to suit your circumstances or lifestyle. For example, with a home loan of $200,000 you could have $150,000 in a fixed rate Principal and Interest Term Loan and $50,000 in a (floating rate) Flexible Loan Account. Most lenders allow up to 4 splits so that we can tailor it to match your needs.
A short term (interest only) loan allowing you to finance the purchase of one property before the sale of your existing one has been finalised.
Prospective purchasers can sometimes be "put-off" by this form of sale as a 10% deposit is required at the fall of the hammer. Contact us prior to the auction to see how we can assist.
Self Employed Borrowers
Traditionally self employed people have found it more difficult to obtain finance as lenders want up-to-date financials. These financial statements are not always readily available and your Accountant may have done a good job to minimise your tax position. We have a number of lenders who recognise this and provide flexible options. Contact us for a chat – you may well be surprised!
First Home Owners
First home buyers often find the process challenging. We are here to help you with all your options.
Next Home Buyers
Moving to a more suitable home to fit your circumstances? – You’ll be looking for the best loan structure. Our extensive lender base will ensure we find the right loan package for you.
Off-shore Buyers
We have a range of options targeted to this particular sector.
Clients in this category are unique in their circumstances, so please complete your contact details here and we will discuss your requirements individually with you.
Pre-approvals
Make an offer on a property with peace of mind that finance is available.
100% Loans
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