Below is a list of the available residential loans that we can offer from various lenders in the market. Whether your looking for a particular type of loan or a combination of loans, we can provide you with specialized advice to ensure your needs and objectives are satisfied.
| Available Loans |
Standard Variable Loan |
A Standard Variable Rate loan is one where the Interest Rate fluctuates during the term of the loan. |
Basic Variable Rate Loan |
Basic Variable Rate Home Loans are sometimes referred to as 'no frills' loans and offer a lower interest rate than Standard Variable Home Loans. However, Basic Variable Home Loans offer fewer features and less flexibility than standard variables. In general, if you require extra flexibility (such as a redraw facility) you may have to pay for it. |
Introduction/Honeymoon Loan |
These loans traditionally offer a Introductory period or Discount Period in which the interest rate will be reduced. The Introductory period can vary from 6 to 12 months. The interest rate can either be a discounted variable rate, fixed or even capped. Once the introductory period has expired that loan reverts to the standard variable interest rate. |
Professional Package |
If you are borrowing a larger amount then you could get a discounted interest rate through a Professional Package. These discounts are usually dependant on the loan amount - the bigger the loan amount, the bigger the discount. While the name suggests that these loans are restricted to professionals, this is not the case. The criteria for qualifying for a professional package varies from bank to bank, as do their tiers of discounts. The majority of lenders now base their criteria on the size of your loan - with discounts starting for loans greater than $150,000 with a limited number of banks. For loans greater than $500,000 most lenders will now discount their standard variable rate products by 0.7%. Some professional packages may also require you to take out a credit card and transaction account |
Fixed Loan |
A fixed rate loan is one where the interest is “locked in” for a specified period within the term of the loan (e.g. The first three years of a 30 year loan) or for the whole term of the loan. The interest rate is agreed and contracted between the lender and the borrower for an agreed term and generally cannot be changed without compensation being payable. |
Equity Loan / Line of Credit |
Line of credit facilities or Home Equity Loans allow borrowers to gain access to the accumulated equity that they have in their properties. The Line of credit facility limit is normally determined by the value of the security or property that is being offered. A major feature of these facilities is that they allow the borrower to redraw their facility back to the original limit, they even allow the borrow to go between a credit and debit balances. These facilities are known as Revolving line of credit facilities, they are similar in operation to the common overdraft.
Most Line of Credit facilities allow for the borrower to operate their loan account as their transaction accounts, thus achieving an “all in one” account. Normally the borrower has their wage or salary deposited directly into the facility, which reduces their balance, thus reducing their daily interest charge. The borrow would then normally pay all their bills using the credit card, and access cash from their line of credit facility from a cheque book, ATM card etc.
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Construction Loan |
Most lenders will offer loans for the purpose of constructing owner occupied or investment dwellings. Most traditional lenders will lend on a progressive draw down basis as per the fixed building contract or as a single draw down at the completion of the construction. |
Owner Builder Loan |
Generally the maximum borrowing is 80% of your land plus construction value. These loans are drawn on a progressive basis following the completion of each piece of construction i.e. the lender will pay the invoice once the work is completed. |
Rural Property |
Most lenders will consider application for finance when the security being offered is zoned rural, however they will restrict the value of which they will extend to the facility. |
Low Doc Loan |
These loans require very little income documentation to get approval. They are typically used by borrowers who are self-employed, have variable income or do not have tax returns or financial reports.
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No Doc Loan |
These loans require no or minimal supporting evidence of your income. They are typically used by borrowers who are self-employed, have variable income or do not have tax returns or financial reports.
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Reverse Mortgage |
Reverse mortgages allow you to borrow cash against the value of your home. No repayments are required during the term of the loan, instead the interest and other charges you would ordinarily pay are added to the loan balance, which becomes payable either by the estate of a deceased borrower, when the borrowers leave the property and move into care or sell the property. |
Self Managed Super Fund Loan |
Superannuation property investment is now available in Australia. Self Managed Super Funds often want to gear their real estate investments in order to diversify risk and increase the yield on their investment, but many funds do not have sufficient money to purchase real estate outright. The Superannuation Industry Supervision Act (SIS ACT) was amended in September 2007 to allow super funds to borrow and charge their assets so long as a special structure is used. |
