Home Loan Variable: 5.94% (5.95%*) • Home Loan Fixed: 5.79% (6.39%*) • Fixed: 5.79% (6.39%*) • Variable: 5.94% (5.95%*) • Investment IO: 6.14% (6.58%*) • Investment PI: 5.99% (6.61%*)
Frequently Asked Questions
HOME LOANS (GENERAL)
A Risk Fee is a once-off charge payable by you when the amount of money you borrow for the purchase of a home or asset if higher than that lender’s acceptable LVR. For a home loan, this is usually 80% of the value of the home (80% LVR) …
TYPES OF HOME LOANS
Most lenders have moved away from the no-deposit home loan, although there are a few products available with very strict criteria. Excluding the no-deposit opportunities made available to the medial industry and other …
FIRST HOME BUYER FAQ
When you apply for a home loan, a lender will take a large number of factors into consideration when deciding whether or not to approve your application. The Serviceability assessment determines if you can comfortably “service” the loan repayments after considering all of your …
TYPES OF HOME LOANS
Conveyancing is the legal process of preparing and organising the required documents involved in the transfer of property from one person to another. The conveyance of a property is undertaken by both those who are …
HOME LOAN TYPES
Low doc (low documentation) home loans can benefit people who don’t have access to the level of information banks and lenders often require for your standard home loans. If you are a business owner, contractor, seasonal worker or freelancer, you may not have all …
TYPES OF HOME LOANS
Buying a house is filled with expenses, some examples being legal fees, stamp duty, application fees, as well as the initial required deposit. On top of these initial costs, there can be additional expenses, especially in that initial year, as you begin to personalise …
HOME LOAN TYPES
A ‘Split Home loan’, ‘Split Facility’, or ‘Split Mortgage’, is a home loan that combines a Fixed Home Loan and a Variable Home Loan. In essence, a Split Loan allows you to split a home loan into two accounts, both of which attract …
HOME LOAN TYPES
A construction loan, also known as a building loan, is a lending option that provides you funds to pay your Licenced Builder (or fund your Owner-Builder project) throughout each stage of your build or renovation process. It has a vastly different loan structure …
HOME LOAN TYPES
A fixed rate loan, as opposed to the Variable Rate Home Loan, is one where the rate is fixed for a defined time period. Not as popular the variable product, Fixed Rate loans still offer a range of features that make the loan type …
HOME LOAN TYPES
The Variable Home Loan rate is the most popular home loan type in Australia. An interest (and comparison) rate is set for a particular product and will vary depending upon cash rate changes as dictated by the Reserve Bank of Australia. The variable rate …
HOME LOAN TYPES
Most home loans are based on principal and interest. That is, you pay off the principal amount (the amount you have borrowed) in addition to the accumulated interest. However, when servicing an interest only loan you will only pay off the interest component for …
HOME LOAN TYPES
A Home Loan Package is a home loan bundled with other financial or banking services and products with the main attractive feature usually being an included discount on the home loan interest rate. At the time of this writing, the interest rate reduction …
HOME LOAN TYPES
A Basic (or No Frills) Variable Rate Home Loan is a straight forward non-complicated loan with minimal features, a competitive interest rate and no annual or monthly fees. Payment of an establishment or application fee varies between lender …
SPECIALIST EMPLOYMENT
There are no limits to the police services and officers we work with. We also work with nurses, doctors, firefighters, and military personnel to source a suitable product given your unique employment position. Generally speaking, police officers …
SPECIALIST EMPLOYMENT
Extra perks are available to some qualifying professions within the mining industry like Mining Engineers, Surveyors and Geophysicists, whose salary meets the minimum income test ($150,000 at time of writing) and you are a member of the appropriate industry association …
SPECIALIST EMPLOYMENT
Barristers, Lawyers and accountants are recognised as low-risk borrowers with high incomes and for this reason, you can borrow up to 90% of the value of the property and pay no Lenders Mortgage insurance (LMI). Normally LMI …
MEDICAL PROFESSIONALS
Medical doctors are considered ‘low risk’ by the majority of lenders because of higher incomes, and the likelihood that income will increase over time. Additionally, Doctors are considered to be future customers of other types of products …
FIRST HOME BUYER FAQ
A Guarantor Home Loan, or ‘Family Pledge’ Home Loan, allows family members or, in some cases, someone else who is close to you, to ‘guarantee’ your home loan. This means they will be responsible for servicing the loan if you can’t. A guarantor will usually has …
HOME LOANS (GENERAL)
The Loan to Value Ratio (LVR) is the amount you’re borrowing represented as a percentage of the property’s value. The loan amount is divided by the purchase price of the valuation amount, then multiplied by 100 to make a percentage. For example …
HOME LOANS (GENERAL)
A comparison is the true cost of a loan every year, including fees and charges, and taking the product attributes into account. While an interest rate may be low to lure you into that product, the comparison rate provides a more realistic understanding of the cost of a loan …
FIRST HOME BUYER FAQ
Buying a new home is the foundation for future wealth, and expert guidance by one of our team will invariably save you thousands. Not unlike buying a car, there are a number of ‘on-road considerations’ that should be taking into account when determining affordability. …
FIRST HOME BUYERS
Pre-approval simply means that the lender has evaluated your property purchase, your basic details, and has obtained other early details, in order for you to start looking for property. It provides you with an informed and reliable estimate of your …
FIRST HOME BUYER FAQ
When purchasing land before a build you will generally have to pay a deposit of 10% of the purchase price, with the balance being payable on settlement – this way you pay stamp duty only on the land, rather than on the construction cost of the house …
FIRST HOME BUYER FAQ
Home loan products evolve, as do conditions and your own circumstances. We keep track of your borrowing and keep in touch regularly to assess your suitability for a new product or rate – we never want you paying more than you have to …
FIRST HOME BUYER FAQ
A disability pension is a valid income source for the purpose of making a loan application with many banks. As with any loan application the amount of income from a disability pension, or from any other source, factors into the amount you can …
FIRST HOME BUYER CONSIDERATIONS
Stamp duty is a tax charged by State and Territory governments on the purchase of property. The amount of duty charged will depend on the State government’s formula and the sale price. There are usually concessions for first-home …
FIRST HOME BUYER CONSIDERATIONS
The First Home Loan Deposit Scheme, which started on 1 January 2020, will be targeted towards first home buyers earning up to $125,000 annually or $200,000 for couples. The value of homes that can be purchased under the Scheme …
FIRST HOME BUYER CONSIDERATIONS
The First Home Owners Grant is a national scheme funded by the States and Territories and administered under their own legislation. The grants differ from State to State, and can take the form of a discounted or reduced property transfer fee …
FIRST HOME BUYER CONSIDERATIONS
Your home is likely to be your biggest ever purchase, so it’s well worth protecting with insurance. There are a number of factors that will affect the size of your home insurance premium, including location, the home’s age and building material, the rebuilding value and …
FIRST HOME BUYER CONSIDERATIONS
Often lumped in together, these inspections provide very different information and are worth every cent. Don’t think you need one or the other. You need both, and each should be carried out by a suitably qualified and licensed expert. Often a building inspector is also qualified …
FIRST HOME BUYER CONSIDERATIONS
The Mortgage Registration Fee is a charge by the State or Territory land titles office to register the lender’s mortgage on the property’s title record, and is paid by the borrower in full at the time a loan is transacted. Should you default on your …
FIRST HOME BUYER CONSIDERATIONS
Lenders will require you to take out this rather costly insurance cover if they are lending you more than 80 per cent of the value of the property (or you have a Loan to Value Ratio (LVR) of more than 80%) …
FIRST HOME BUYER CONSIDERATIONS
Your loan itself may come with additional costs, including application fees, set-up fees and a property valuation. Depending on the type of loan, there may also be monthly account fees.
FIRST HOME BUYER CONSIDERATIONS
You will need a solicitor or conveyancer to handle the legal transfer of the property title and make the necessary searches. Legal fees can vary widely. You are entitled to a quote up front, and should always ask for one. The more complex the transaction …
FIRST HOME BUYER FAQ
This is a tough question to address without an understanding of your circumstances, For a first home a deposit of anywhere between 5% and 20% will be required, with the lower rate predicated upon Government assistance or grants. …
HOME LOANS (GENERAL)
Equity is the value of an asset (e.g house, car) minus any debts attached to that asset. For a property, the equity would be the current market value of the property minus the balance of any loans attached to that property. …
HOME LOANS (GENERAL)
Lenders assess mortgage applications differently based on the location of the property being offered as security. A lender, or the Lenders Mortgage Insurance provider, will apply more rigid lending policies in high-risk locations to limit their risk …
FIRST HOME BUYER FAQ
If you’re a first home buyer, you may be eligible to withdraw voluntary super contributions you’ve made to put toward a home deposit. Through the First Home Super Saver Scheme (FHSSS), first-home buyers may be able to use Australia’s superannuation system as …
HOME LOANS (GENERAL)
Getting into the property market is difficult when you’re paying rent because you’re still required to save a 5% deposit towards a new home. While the deposit is still usually required, many lenders will accept your rental history as a …
HOME LOANS (GENERAL)
Self-Managed Super Funds are often used by investors as a means to take control over their superannuation for the purpose of investing in property of their own choosing. However, Self-Managed Super Funds – particularly when used for investing – is a complex …
FIRST HOME BUYERS
The term Genuine Savings refers to the funds that you have saved genuinely and gradually over time, usually between three to six months. It excludes gifts, tax refunds, one-off payments from the sale of assets, such as you car …
HOME LOANS (GENERAL)
We believe that former adversity shouldn’t impact upon your ability to get a home loan, and we specialise in sourcing suitable products for those that have experienced adversity via a less-than-stellar credit history, bankruptcies, defaults, Part IX debt agreement …
TYPES OF HOME LOANS
Property prices in Australia are high – particularly in capital cities. While entry to the property market is generally within reach of many, the co-ownership model provides access to property with a shared obligation towards repayments. There are …
PERSONAL LOANS
Personal loans are generally unsecured and can be used to purchase a car. Personal loans are commonly used to purchase vehicles on a private sale or older model vehicles, however, some lenders will have limitations on the age of the vehicle …
PERSONAL LOANS
There are several financing options for those who are looking to finance a car, the most popular option is a car loan, but you may also want to consider a secured or unsecured personal loan. A personal loan is a form of credit used to finance personal purchases …
PERSONAL LOANS
A personal loan is a great option to fund smaller home improvement projects (from $4000) as they have lower interest rates compared to credit cards. If you chose an unsecured loan you do not have to provide collateral against your loan, so there is no risk of losing …
PERSONAL LOANS
Multiple loans or Credit card debt consolidation is the process of combining a number of existing credit card and loan debts into one convenient loan with one set of loan fees to better manage your repayments. Your debts may consist of credit cards, medical …
HOME LOANS (GENERAL)
If you are purchasing a property, and you don’t have your deposit readily available, then a deposit bond may be a suitable solution. A deposit bond is a guarantee, issued by an insurance company, to the vendor of the property you are purchasing, that they will receive …
HOME LOANS (GENERAL)
A Guarantor Loan, Family Pledge Loan, Limited Guarantee, or “Equity Guarantor” loan is one where the guarantor enables entry to the property market to a buyer by offering your own fully or partially-owned property as security. You are essentially co-borrowing without the …
HOME LOANS (GENERAL)
If you’re a first home buyer, you may be eligible to withdraw voluntary super contributions you’ve made to put toward a home deposit. Through the First Home Super Saver Scheme (FHSSS), first-home buyers may be able to use Australia’s superannuation system as …
HOME LOAN TYPES
Selling your existing home and buying a new home simultaneously can be a little difficult in that the sale of your property, and finding a new property, rarely occur simultaneously. With a bridging loan, you can avoid the stress of matching up settlement dates, move quickly …
HOME LOANS (GENERAL)
As listed on our FAQ on your Credit Score, a credit report may list overdue payments of any kind (by 14 days), unreliable or missed payments, or defaults. That report holds information on your profile as a credit risk and …
HOME LOANS (GENERAL)
Your credit score is your credit history converted to a number between 0 and 1000 or 0 and 1200, depending on which credit score provider produced the credit score. The higher the score, the better your credit rating. It is one of the factors used by lenders to determine how …
NDIS SDA PROPERTY
The National Disability Insurance Scheme (NDIS) is a Federal Act developed in 2013 to allow people with a disability to exercise choice and control about matters that affect them – such as their housing. SDA housing is housing built to a standard …
GENERAL INSURANCE
A permanent injury or illness can make it difficult or impossible to return work. Total and Permanent Disability (TPD) Insurance can provide a financial safety net to help support you and your family, and pay for medical and rehabilitation costs, everyday living …
GENERAL INSURANCE
Income protection insurance pays a percentage of your income if you’re unable to work. The insurance can help pay your bills while you focus on your recovery. Income protection insurance generally pays you up to 85% of your pre-tax income for a specified …
GENERAL INSURANCE
Life insurance is cover that pays out to a beneficiary in the even of a death. Life Insurance can relive financial stress in your absence by providing sufficient finances to help your family pay bills, manage mortgage repayments, and provide general living expenses …
GENERAL INSURANCE
Private health insurance can help you pay hospital and medical costs not covered by Medicare. In some cases, you can receive treatment sooner by electing to be treated as a private patient. In Australia, private health insurance is ‘community rated’. This means …
GENERAL INSURANCE
Trauma Recover Insurance provides peace of mind that your family will not suffer financially in the event of a serious injury that makes it difficult for you to continue working. Trauma insurance can help support your family financially, and support you with medical …
GENERAL INSURANCE
Di you know that over 70% of Australians hold life cover through their superannuation fund? Before investing in various types of cover it’s worth looking at what sort of total and permanent disability, income protection, or other policies made available through your super fund …
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The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice.
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