PRODUCTS
What type of home loans are there ? The type of home loans we can provide are: Standard Variable Home Loan Basic Variable Home Loan Fixed Rate Home Loan Split Loan Introductory or Honeymoon Rate Home Loan All - In - One Home Loan Line of Credit / Equity Home Loans Low Doc Loan Bridging Home Loan Non-conforming Home Loan Professional Package Product Over the last 5 years there have been many new home loan types created to meet the varying needs of the market. In fact, we have up to 2000 home loan products available through 30 lenders including the major banks. If you need more information on these types of home loan products and how they suit your individual home loan call us today.
All In One Home Loan These types of loans offer a low interest rate usually for the 1st year of the loan. The rate may be fixed, variable or capped, meaning that if interest rates rise your rate will not go up, but if rates fall that rate will go down and you will benefit. Once the Introductory or Honeymoon period is finished the interest rate usually reverts to the standard variable rate. The advantage of an Introductory Rate is that it offers borrowers a chance to reduce the principal quickly by making extra repayments. The main disadvantage is that most banks charge penalties if you discharge these types of mortgages within in first 3-4 years after settlement.
Purely Finance Pty Ltd Licensed Finance Broker Number 2424