If you have been Declined by mortgage insurance this loan will help.
No mortgage insurance loan
- This loan feature simply allows you to make extra repayments on your home loan and then access those funds if needed.
- Your redraw amount could be used as a deposit on an investment property.
- These loans do not require mortgage insurance or to pay a mortgage insurance premium.
- Can save you thousands of dollars allowing you to buy your home sooner.
- Mortgage insurance can be strict and passing the criteria can be the downfall of applying for a mortgage. This way can alleviate the mortgage insurance problem.
Purchasing a new car is quite exciting! So don’t be disappointed finding a new car without first knowing if you can afford the car. Talk to us first.
- A car loan is a termed personal loan where you borrow the money that you have to repay within a certain time frame.
- The type of car you buy and if you have any savings will determine how much you will need to borrow and the repayments you will need to make.
- The repayments are usually fixed and you know how much has to be paid on a certain date usually monthly and usually the same amount for each repayment.
- A personal loan term can vary from 12 months up to 5 years.
- Personal loans are usually a fixed rate loan and the interest rate is locked in for the term of the loan.
- Fees and charges apply for the personal loan.
Popular option for investors who want a low rate without the features.
No frills or basic loan
- Generally a loan with lower variable interest rate than standard variable loans.
- The trade off for the discount has less flexibility and fewer features.
- A basic variable loan doesn’t usually offer a redraw facility, removing temptation to spend money you’ve already paid off your loan.
Quite flexible loan option. They allow for overpayment or even underpayments if prior overpayments have been made.
- Fundamentally a saving account that is linked to a loan account.
- Rather than earning interest on your savings deposit, the funds are used to off set the principle of the loan account.
Useful If you are buying or building a new home before the sale of an existing one.
- Useful if you are buying or building a new home before the sale of your existing one.
- This loan bridges the gap between two home loans.
- The lender takes security over both properties and lends against them until both sales are complete.
- Generally a short term loan, interest is only paid during the loan period.
Keep your online credit enquiries and applications low as it can affect your credit rating.
non conforming/ credit impaired
- Designed for people who are self employed but have been for only a short amount of time or have had some form of credit glitch in the past.
- Lenders are willing to overlook the past situations and the short term self employment if you have the ability to repay the proposed loan
- People who earn money from unusual sources or unusual circumstances and do not fit the normal banking criteria.
- These loans are an option for people who have been declined, are unsuitable or do not qualify a bank, building society or credit unions criteria for a loan.
Popular for self-employed without current tax returns.
Low doc/ no doc
- These options are popular among self employed people whose financials and tax returns aren’t up to date.
- It is the easiest option for those who are self employed as less information is required.
- These loans can have a higher interest rate and require a larger deposit, so doing something more to attain financials could be a better alternative.
- The loan may over look non-existent or poor credit ratings.
- These loans help people who have trouble showing their income on official documentation.
- Allows retirees to access equity in their property to help fund quality of life or aged care needs.
- Gives you the option to draw down on a lump sum or regular part payments, but does not force you to make any repayments during the loan term.
- Interest is repaid on the death of the retiree, or when the retiree moves out of the mortgaged home permanently.
We have obtained a relationship with well established and award winning builders so we can introduce you to some of the industry’s best.
Builder/ developer home and land packages
- House and land package are terms used by home developers to describe a deal that includes both a new home and the land on which it is built.
- Developers can offer slightly different packages and most will have a variety to choose from. Deal directly through us with our builders or developers and get a great deal on your new home or investment property.
- You can change from negative gearing and having to put your hand in your pocket each month to pay for your investment property to positive cash flow from your investment property. There are several options we can discuss with you.
- The two basic types of house and land packages are: you select the block of land then choose from a number of standard or customised home designs. These packages are sometimes called ‘off the plan’ and in most cases, a house and land package will consist of a pre built home and the land it is built on.
By purchasing the land first you save in stamp duty costs.
Land and construction
- This loan is when you are building a new home or making major renovations to your existing home or property.
- Land and construction loans are generally done in two stages – the first stage is funding the land that you have purchased; repayments will have to be made on this portion of the loan after settlement. The second stage is the construction process; the loan will be drawn down in stages as the house is built and you will be required to make repayments based on the balance of the loan.
Have your rental income go into your home loan line of credit to help pay the loan faster and save interest.
Line of Cerdit
- You have the capacity to pay the loan off much faster.
- Great flexibility to draw on the equity in your home without having to apply for a new loan, so long as you keep up with the required repayments.
- If you continue to draw on the surplus of this loan it may never get paid off.
- Your salary can be paid direct into your line of credit account.
- This loan requires a great amount of discipline because you can keep drawing out on the surplus making it hard to pay off the loan.