Home Loan Solutions

Choosing the right loan Feature Standard Variable P & I Basic/ Budget P & I Fixed Rates P & I Can pay weekly Can pay fortnightly Can pay monthly Can pay Extra without penalty Limited Can discharge loan early with no penalty Rates may fluctuate Redraw available Generally No Offset available Generally No Construction Loan (usually interest only) Other Loans Available Combo Loan (Combination of the above) Line Of Credit Pay credited in full to loan account Facility can be used for a range of different purposes Repayment options are usually flexible Funds are easily accessible via ATM, Netbank and EFTPOS Free redraw Variable interest rate Low Doc For borrowers who are unable to provide Financial Statement/Tax Returns to the lender to verify income Available to self-employed applicants only Minimum two year self employed Must have an ABN Must be registered for GST Bridging Finance Finance can be arranged for a new property to be purchased prior to the sale of your existing property. Construction Loans These loans are interest only while property is being constructed. Your interest amount each month increases over time as progress payments are being drawn and paid to your builder. Glossary of Terms P & I Loan repayments that are principal and interest reduce the loan sooner , that is you are paying down the loan from the commencement of the loan. All loans that are interest only must be paid monthly Interest Only Loan repayments are interest only – usually for 3 – 5 years initially - Not available for home loans usually investment or construction. Loan balance would then need to be paid back on a shorter term, for example if you choose a 30 year loan term and have 5 years interest only the balance would need to be paid over the remaining 25 years. Professional Package Packages available dependent upon loan size. Has an annual fee however other benefits are available for example, lower interest rate, free offset accounts Basic Product Offers flexible repayment frequency options with a discounted interest rate for the term of the loan. Has less product features than the standard variable rate loan and has no introductory discounted interest rate available. Extra repayments allowed, with redraw on extra funds permitted (fees may apply). Principal and interest or interest only Fixed Rates Loan interest rate is fixed for a period of time, for example 1,2,3,4 or 5 years. Will then automatically revert to the future variable interest rate. You can refix however will be based on rates at that time. Time frame and repayment amount to be considered to avoid penalties. Standard Variable Rate Offers flexible repayment frequency options. Discounted “honeymoon” rate often available. Extra repayments allowed, with redraw on extra funds permitted (fees may apply). Professional packages available. 100% Mortgage Offset feature is available. Principal and interest or interest only repayments.