Loan Products

The following is an overview of some of the products and features that lenders offer.  Please contact one of our Lending Consultants to discuss the advantages and disadvantages directly relating to your circumstances.

Standard Variable Loan

Dependant upon the current market rate, the standard variable loan allows you to make unlimited repayments without incurring a penalty.  With most Lenders you have the option to pay weekly, fortnightly or monthly.  Additional monies paid into your loan, can quite often be drawn upon.  There is the ability to fix part or all of the loan at any time.  Available either as Principle & Interest Loan or Interest Only Loan.

Basic Variable Loan

Often called the "No Frills Loan".  These loans generally do not offer all the features of a standard variable loan.  They are suited to people on a budget who are not looking for features like redraw, lump sum payments, portability.  Most often these loans do not allow you to fix without switching and incurring a fee.

Fixed/Investment Loan

This loan allows you to fix the interest rate for a period of time, say one to ten years. An advantage of these types of loans is the certainity of the maonthly payments during the fixed period, making it easy to budget.  The disadvantages are that most lenders restrict additional payments to be made without penalty.  Should you decide to sell your home and repay the loan generally a penalty applies.

Line of Credit

Likened to an overdraft.  This loan is flexible which allows the borrower to access funds to an agreed amount.  These loans can actively help manage your finances, but require a disciplined debt reduction strategy.  The interest rates are usually higher than a normal loan, whilst flexible they are require caution when entering into these styles of loans.

 

Lo Doc Loan

Fallen out of favour with banks these days.  A low doc loan is for the self employed client who are not able to provide full financials and tax returns at the time of application.  One application must be self employed within the same industry with a current ABN held for a minimum of two years.  Applicants will be required to complete and sign a low documentation loan declaration as proof of income.

Professional Packages

For an ongoing fee, you will be entitled to interest and fee discounts on a suite of commonly used banking related products and services. The size of your loan determines the magnitude of the interest rate discount that is applied for the life of the loan.  As the name implies, most suited to those who are ongoing property investors.

Refinance/Debt Consolidation

Allowing the customer to consolidate varying types of debt in a bid to lower and better manage monthly repayments.

Construction Loans/Land Loans

A land loan / construction loan is a two fold loan.  The land is purchased first with the balance for the construction of the building to be paid directly to the builder in agreed contracted drawdowns, as it is completed.

Super Funding Lending

The Australian Government has recently allowed the ultilisation of your Superannuation to purchase Investment Properties.  Called Superfund Lending, the structure is complex and requires individual discussion for its appropriateness to your circumstances.

Bridging Loan

Bridging finance allows you to buy and move in to your new home, while your old home is still on the market. Bridging finance generally allows you a minumum of 6 months (interest) to sell your home.

Equipment Finance

Equipment finance is used to fund items such as vehicles, office equipment, computers, plant equipment used in the running of your business.  Finance is available through a Chattel mortgage, Asset Purchase, Lease or Novated Lease.

Commercial Loan

Commercial loans may be used to purchase a business, business expansion, purchase plant and machinery or a business premises.

Deposit Bonds

A deposit bond is a guarantee to the vendor (seller) that acts as a substitute for the cash deposit between signing the contract and settling on your property.

Reverse Mortgages

Reverse mortgages are available for applicants with a minimum age of 60. No monthly payments are required and repayment of the debt is made when the property is sold.

Personal Loan

Available for any worthwhile personal purpose, including holidays, new & used cars, furniture etc.