Different Types of LOANS

Basic/discounted Variable Loans

Introductory/Honeymoon Rate Loans

Basic/discounted Variable Loans

The basic/discounted variable loans also referred to as the "no frill" loan.

It mainly designed by the banks as bait for attracting new clients, due to its very competitive rate.

Standard Variable Loans

Introductory/Honeymoon Rate Loans

Basic/discounted Variable Loans

Standard Variable loans are very popular with owner occupiers and property investors due to its flexibility by having a wide range of features.

Its interest rates typically slightly higher than the basic variable loans.

Introductory/Honeymoon Rate Loans

The introductory or honeymoon loans are mainly designed to capture the first home buyers' market.

These products offer the borrower a discounted rate for the first 12 - 48 months of the loan. The interest rate then reverts to the standard variable rate after the introductory (honeymoon) period.

Fixed Rate Loans

Line of Credit (LOC) Facility

Introductory/Honeymoon Rate Loans

The interest rate loan, as the name suggests, allows the borrower to fix the effective interest rate on the loan for a pre-determined period (usually between 1 to 7 years).

Fixed rate loans are less flexible than variable loans as they limit the amount of extra repayments you can make and you generally cannot access your extra repayments until the fixed rate period expires.

Penalties usually apply if you break the mortgage during the fixed period.

Line of Credit (LOC) Facility

Line of Credit products basically act like a giant credit card enabling you to have access to unlimited funds, up to a predetermined limit based on an Loan-to-Value (LVR) of the property's value.

They are the most flexible product on the market. They do not have a loan term and as such the minimum repayment to the lender is the interest only, charged to the Line of Credit account monthly.

It's popular among sophisticated investors due to it's flexibility, ease of usage.

Professional Loan Packages

Line of Credit (LOC) Facility

The professional package is not a loan type, rather, it's the bundling of a number of discounted products (for example a standard variable loan, a credit card and a transaction account – also known as an offset account).

Whilst an annual fee typically exists, the interest rate discounts are very appealing and normally more than offset the annual fee.

Professional packages provide interest rate discounts which remain for the life of the loan.

Construction Loans

Security Guarantor Loans

A construction loan is designed for building a new property.

The loan usually is divided into five progressive draw downs - Base, Frame, Lock-up, Fixing, and Final Completion.

The term is varies from 6 to 12 months.

The loan is interest only and converts to principle & interest automatically after the building completion.

Security Guarantor Loans

A security Guarantor Loan is provided when the borrower can demonstrate that they can service the commitment of the proposed loan, however require assistance from the guarantor to provide security to support their application.

A borrower may apply for a security guarantor loan when:

There is insufficient deposit;
To avoid Lender Mortgage insurance;
To purchase an owner occupied or investment property.

Bridging Loans

Security Guarantor Loans

Bridging Loans

A bridging loan is designed to allow vendors to buy a new property while the existing property is on the market, enabling them to sell their current property, whilst the bank finances the interim swap over period of time, which is usually 12 months.

The bridging loan is usually structured as interest only repayment to maximise borrowers' cash flow flexibility.

10 X Calculators

Purchasing and Selling calculators

Property Buying Cost Calculator

Property Selling Cost Calculator

Stamp Duty Calculator

These calculators are designed to provide an estimate only.

YOUR FULL FINANCIAL SITUATION WOULD NEED TO BE REVIEWED PRIOR TO ACCEPTANCE OF ANY OFFER OR PRODUCT.

Please feel free to contact us for assistance.

APPLICATION CHECKLIST

In order to make the loan process an easy one, here is the supporting documents checklist.

For Identification Check:

Passport / Driver License, or other photo ID
Medicare Card, or other non-photo ID

For Income Check:

If you are a PAYG employee: Two most recent payslips, and most PAYG payment summary.
If you are self-employed: Most recent two years’ financials and tax returns for business and personal.
Proof of any other income (e.g. Rental income, Centrelink income, Family Tax Benefit A & B income, and other benefit income)

For Assets Check:

Evidence of your savings, such as bank statements, term deposits, share portfolio, superannuation statements etc.
Deposit receipt (if applicable)
Gift letter (if applicable)
Copies of all recent rates notice for all properties owned

For Liability Check:

Most recent statement for all credit cards.
Most recent statement for all personal loans, and car loans, or other loans.
Six months statements for any existing mortgages (For refinancing)

Other:

Copy of new Contract of Sale for new purchase
Proof of property insurance
First Home Owner Grant (FHOG) forms (if applicable)
Fixed price building contract for new build
Council approved plans and specifications for new build

It really depends on your financial circumstances when it comes to what documents required, and we will assist you to get ready before applying.

Please feel free to contact us for assistance.

FIRST HOME OWNERS GRANT

What is FHOG and am I eligible for it?

The First Home Owner Grant scheme is designed to help first home buyers enter into property market.

To see what applies in your State or Territory, click here.

If you want to buy a property in Victoria, click here to find out your eligibility for FHOG and first home buyer duty exemption, concession, and reduction. And if you want to calculate how much stamp duty to pay in your case, click here.

Alternatively, you can contact us to find out if you are eligible today, and for assistance.

Different Types of LOANS

Basic/discounted Variable Loans

Introductory/Honeymoon Rate Loans

Basic/discounted Variable Loans

Standard Variable Loans

Introductory/Honeymoon Rate Loans

Basic/discounted Variable Loans

Introductory/Honeymoon Rate Loans

Introductory/Honeymoon Rate Loans

Introductory/Honeymoon Rate Loans

Fixed Rate Loans

Line of Credit (LOC) Facility

Introductory/Honeymoon Rate Loans

Line of Credit (LOC) Facility

Line of Credit (LOC) Facility

Line of Credit (LOC) Facility

Professional Loan Packages

Line of Credit (LOC) Facility

Line of Credit (LOC) Facility

Construction Loans

Security Guarantor Loans

Security Guarantor Loans

Security Guarantor Loans

Security Guarantor Loans

Security Guarantor Loans

Bridging Loans

Security Guarantor Loans

Bridging Loans

10 X Calculators

How much can I borrow ?

What will my repayments be ?

Tools to help me plan ahead

APPLICATION CHECKLIST

In order to make the loan process an easy one, here is the supporting documents checklist.

FIRST HOME OWNERS GRANT

What is FHOG and am I eligible for it?

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