All mortgages have the same basic principles: you borrow money to buy a property, the bank takes security over a property, you pay interest on the loan and perhaps you pay it back in full.  Then they start getting complicated and you are looking at:

  • different interest rates
  • different ways to repay
  • borrowing for different periods of time
  • particular mortgages for special situations
  • various charges to pay

With dozens of lenders and thousands of loans out there it can be difficult to know where to start, or which one is the most suitable for you.  There is also a lot of industry terminology which can be confusing.  We have built an explanation of some of the most popular loan objectives, or loan types.  There are many variations of these as well.  Follow the links below to explore some of these loans, what they mean and how they might assist you.

First Home Buyer

Buying a house for the first time can be quite daunting. It is really no different to someone buying for the fifth time. Plus there are potential first home buyer benefits to be had.

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Buying Your Next Home

Looking to buy your next property? Maybe you have cash or are in the process of selling your current property. We can walk you through the options and process.

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Refinance

You have had your loan 2 or more years and realise there are better rates or loan features in the market. Time to look at refinancing.

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Investment Loan

Are you buying a rental house or unit? There are some important differences to buying a property to live in.

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Construction

Looking to build on vacant land, major structural renovations or maybe knock down and rebuild. These loans have staged progress payments made to the builder.

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Security Guarantor

This is often called a family guarantee. A great way to obtain finance with little or no deposit, plus it does away with Lender Mortgage Insurance.

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Debt Consolidation

When buying or refinancing it can be a great opportunity to consolidate and pay out expensive personal debts. Plus, is can often allow you to borrow more for the home loan.

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Equity Release/Cash out

Quite often customer are looking to have a bit of cash left over on top of the home loan. Useful for renovations, holidays, buying furniture or paying off/down debts.

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Fixed/Variable Loans

Learn about the differences between the two key types of loans, the pros and cons of them and which one might be more suitable for you.

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Interest Only

The majority of home loans are principle & interest (P&I) which means the loan reduces over time. There is also the option of interest only (IO), which is popular with investors. A line of credit is another type.

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Lender Mortgage Insurance

Often referred to as LMI this is an often mis-understood insurance. Find out more about when it applies, the cost of it and who it protects.

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Low Doc Loans

Low Doc lenders do not require traditional proof of income such as company financials or tax returns. They can be a flexible solution for self-employed people.

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Bridging Finance

When buying your next home you might end up agreeing to buy your next property before you have agreed to sell your current property. If so then bridging might be the solution.

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Home Loan Package

Most lenders offer a bundles of services for an annual fee. This includes the option variable and/or fixed rates, credit card, transaction account and offset facility.

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Professional Packages

There are a number of medical, accounting, legal and engineering professions that are eligible to borrow up to 90% with no LMI.

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Offset Accounts

An offset account is a transaction account linked to an eligible home or investment loan. Instead of receiving interest on the savings account.

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Self Managed Super Funds

Self-managers super is a superannuation trust structure set up so that you have direct control over what your superannuation is invested in.

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