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Residential Home Loans
First Home Buyers
Just starting out and not sure what kind of loan you need? No worries! We are here to help. As a first home buyer, you can obtain finance from a financial institution (a loan) either to purchase or secure against the property, with our assistance. Features of a mortgage such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan and other characteristics can vary considerably. Speak to us to discuss your options. We can also help you determine your eligibility and help you apply for the First Home Owner’s Grant.
We have put together a FREE guide for First Home Buyers : Steps to Purchasing Your Own Home - With Confidence
Family Guarantor Home Loans
This type of loan can be made by securing a property from a guarantor, usually a family member. This involves securing the deposit shortfall to a property or a house and land packaged being purchased or owned by the guarantor, such as your parents or a close family member. The advantage of this type of loan is that banks generally perceive this as low risk so you will save money on mortgage insurance.
Upgraders
There can be lots of reasons for upgrading your home. Your family might have outgrown the space, you may want to renovate or extend, live in a different location to be closer to schools or work, or you might just want to move up the property ladder. A bridging loan may be necessary to cover the financial gap when buying one property before the existing one is sold. This finance is secured against your existing property (utilising equity) and the new property being purchased. Usually, bridging loans are short term and more expensive than other types of loans. There are alternative ways to finance a change from one home to another, so please talk with us to discuss your options.
Standard Variable & Fixed Rate Loans
The variable rate loan offers more features and flexibility than the basic fixed rate loan, so the rate is usually slightly higher. Fixed rate loans are set at a fixed rate for a specified period – usually one to five years. This gives you the advantage of knowing how much your repayments will be, allowing you to organise your finances without the risk of rising interest rates. However, this advantage is offset by the possibility of not benefiting from a drop in rates.