We also specialise in helping out first home buyers, loans for those of you who have employment that is out of the ordinary and have great knowledge in company, trusts and SMSF mortgages.
Fixed rate loans are set at a fixed rate for a specified period â€“ usually one to five years. The advantage of allowing you to organise your finances and repayments without the risk of rising interest rates is offset by the disadvantage of not benefiting from a drop in rates.
The variable rate loan offers more features and flexibility than the basic or â€œno frillsâ€ loan, so the rate is usually slightly higher.
A basic loan is a variable rate loan with a relatively low interest rate. The low rates for these loans could mean that you can repay the loan faster because there are no extra options available.
These loans are offered to provide an all-inone home loan package. They offer interest rate and fee savings on your home loan, credit card and transaction accounts and some lenders also waive the annual fees for your credit cards.
Honeymoon is just as the name implies – a happy period before you head back to work! Honeymoon loans are a loan with lower repayments for the first six to twelve months. After the â€˜honeymoonâ€™ the loan becomes a standard variable loan and the repayments increase. Make sure that you can meet the higher repayments for the remainder of the loan.
Equity line of credit loans
These loans are a great way to access the equity in your home to use for things like home renovations, investments or other personal purchases. Repayments on a line of credit loan are determined by the interest rate applicable at that time.