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Loan Features

There are loans to suit your individual circumstance. Let me help you choose the loan with the features and benefits that are right for you.

I can recommend a loan for your particular Needs — and take care of all the paperwork.

I will do all the research for you based on your particular circumstances. Just give me a call or email.

Here’s a guide to common loan features and benefits.

Interest only repayments

This option is used during the construction period or by Investors. It allows investors to maximise the tax benefit as the capital amount is not reduced and the interest is a tax deductible expense.

Extra repayments

Regular additional payments will reduce your interest portion of the loan and increase the capital repayment which will result in reducing the term of the loan.

Weekly or fortnightly repayments

This is to fit in with your pay cycle and smooth your monthly or weekly cash flow. Regular early payments will also reduce your interest portion of the repayment.

Redraw facility

This allows you to access any amount you have paid in excess of your regular repayment.  Lenders may have minimum redraw amounts and redraw charges.

Repayment holiday

You may be able to negotiate a payment reduction or holiday under certain circumstances. (Maternity Leave, Career change).

Offset account

This is a savings account linked to your home loan and any credit balance is offset against your home loan balance to reduce your interest charge. (Tax free interest). The credit balance is immediately accessible via EFT an ATM’s. These linked accounts usually attract an annual package fee.

Direct debit

Your monthly repayment is automatically collected from your nominated account by the Lender. You only Have to ensure that funds are available in the account on the due date.

Professional package

These packages offer discounted interest rates for loans over a certain amount and tend to automatically include a credit card and offset account. There is also usually an annual package fee.

Portable loans

When you sell your existing home you are able to replace it with another residential asset subject to the original loan terms and conditions without a new home loan application.