First Home Buyers

As a first home buyer, you may be entitled to various state government grants, schemes and stamp duty exemptions. We will ensure that we explore these entitlements for you and help you complete the grant application. Where applicable we will lodge the grant application with the lender on your behalf, so the funds are available at settlement.

Pre-Approvals

Pre-Approvals allow you to have a loan approved in principle so you can look for your ideal property with the peace of mind knowing your finance has already been approved (usually only subject to a satisfactory valuation). Having your loan pre-approved eliminates the urgency of applying for a home loan after having found a property to purchase.

Refinance / Debt Consolidation Loans

Refinancing your existing home or investment loan and / or consolidating other smaller debts such as personal loans, car loans and credit cards into one easy to manage, more competitive home loan may save you thousands of dollars over the life of your loan. We can help you with this process to ensure that your money is working for you in the most efficient manner.

Construction Loans

A Construction Loan gives you access to the loan proceeds via progress payments that are paid to your builder as they complete the different stages of construction. This is an economical way to fund the construction or renovation of your property as you will only be paying interest on the funds drawn down until the final progress payment is made. When the final progress payment is made, the loan repayments will revert to P&I repayments unless you have specifically requested a longer interest only term.

Reverse Mortgages

If you are over the age of 60, own or have significant equity in your own home and would like to experience a more comfortable retirement you can use a reverse mortgage to borrow against the equity in your home without having to sell it. Some of the benefits of reverse mortgages include, no regular repayments, compounded monthly interest and no requirement to pay anything until the end of the loan. There are also assurances with reverse mortgages that protect you as the client. The lifetime occupancy clause ensures the client can live in their home for as long as they wish and a guarantee that the loan amount required to be repaid will never be greater than the sale proceeds of the property.

To view the Reverse Mortgage Information Statement click here.

SMSF Loans

A Self-Managed Superannuation Fund (SMSF) can borrow funds via a Limited Recourse Borrowing Arrangement (LRBA) to purchase either residential or commercial property (a single acquirable asset). These loans are a little more complex than traditional loans and involve the trustee of the SMSF taking out a loan (LRBA) to purchase the asset that is then held in a separate trust (bare trust) on behalf of the SMSF until the loan is repaid. Once the loan under a LRBA is paid back, the SMSF trustee has two options; it can retain the property in the bare trust, or it can transfer title to the property from the bare trust to the SMSF.

Business Loans

We have a panel of lenders that specialise in both long and short-term, secured and unsecured business loans. Whether you are looking to purchase a new business premises, fund new stock purchases or require cash flow assistance, we have a lender that will provide you with a suitable solution.

Asset Finance / Personal Loans

QuickAF is an asset finance tool available to our brokers through our aggregator Connective. If you require a personal loan, car loan or equipment finance our brokers can put you in contact with the QuickAF team who will assist you with this.

Common Loan Features

Principal and Interest Payments

Principal and Interest (P&I) repayments mean you are paying both the interest your loan accrues as well as a portion of the principal balance you have borrowed from the lender. This is the most common repayment type for owner-occupied borrowers as you are reducing your loan balance with each repayment you make. Finally, P&I repayments usually have lower interest rates when compared to Interest Only loan repayments.

Interest Only Repayments

Interest Only repayments are exactly as the name suggests, you will only be making repayments equal to the interest accrued over that period. You will not be reducing the principal balance, this means your repayments will be lower than if you were paying off both the principal balance and the interest. Although this does mean that your repayments will be higher once the interest only period has expired (generally 1-5 years) as you will then need to start paying more to pay back the principal and interest balance within the specified loan term. Interest Only repayments are generally more popular among investors and for investment loan types.

Extra Repayments & Redraw Facility

Once you are in the swing of making your required minimum loan repayments you may wish to start making extra repayments to help reduce your overall loan balance and payoff your loan quicker. If your loan product has a redraw facility, you can access the extra repayments by taking back or ‘redrawing’ up to the amount of the additional repayments you have made. A redraw facility is extremely helpful as it allows you to make extra repayments whilst still having access to those additional repayments if required for an unexpected bill or any other worthwhile purpose.

Offset Account

An offset account is an everyday transaction account that is linked to your home loan. You can make deposits into this account and withdraw money as you would with any other transaction account. The benefit of the offset account is that the balance of the account ‘offsets’ against the balance of your home loan. For example, if you have $500,000 outstanding on your home loan and deposit $100,000 into your offset account you will only be charged interest on $400,000 rather than the full $500,000 for as long as the $100,000 is in your offset account. This is a popular feature for many clients who often like to have their salary deposited into the offset account in order to reduce the amount of interest paid over the life of their loan whilst still having access to these funds via the offset transaction account.