Standard Variable Home Loans
The most common type of home loan based on the housing marketís variable rate of interest. Just as it is subject to rate rises this loan can also provide you with interest rate decreases. These home loans are the most flexible offering a range of features.
Introductory Home Loans
Also known as Honeymoon Loans. These loans are Standard Variable Home Loans that offer a discount period for an introductory period which is commonly 12 months. The Introductory rate is either guaranteed for the introductory period or a discount off the Standard Variable Rate is offered for the introductory period.
Basic Home Loans
Also known as ëDiscountí Home Loans. These loans are a no frills version of the Standard Variable Home Loan. Generally they have fewer features than the Standard Variable Home Loan and are less flexible. These loans are only available for new borrowings.
Fixed Rate Home Loans
You can choose fixed rates for periods of 1,2,3,4,5,7 or 10 years. They allow you to manage your loan repayments so you can budget for other financial priorities in your life. Fixed rate loans only allow limited additional repayments without penalty.
Low Doc Home Loans
Low doc loans are designed to provide flexible financing solutions when your tax returns do not reflect your true wealth and you have the ability to service your loan.
Split Home Loans
A Split Home Loan allows you to take advantage of a number of different home loan options. Another advantage of a split loan is assist you to determine a purpose for you debt, hence possibly making it easier for you and your tax agent at tax time. Note some loan providers will charge to create a split, otherwise use you mortgage broker to provide you a suitable solution.