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First Home Owner
If you have never owned residential property you are applicable for the First Home Owners Grant (FHOG). This can be used to cover some of the fees and charges associated with buying your first house. We can organise the First Home Owner's Grant for you so that it is paid out at the same time that your loan is settled.
Many people mistakenly believe that the FHOG can be used for the deposit for their first home. Most financial institutions require 3-5% genuine savings (see genuine savings in FAQ). If you can contribute 10% of the property value or more as a deposit, you do not have to show genuine savings.
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Fixed rate loans
In the current economic climate, many people are worried about increasing interest rates. You can have your loan fixed for a period of 1-10 years for piece of mind. This will guarantee a constant periodic repayment for the chosen fixed term.
It is important to note that fixed rates can frequently change (either higher or lower). To protect yourself from a rising rate you can opt for a rate lock at the time of application. This can often come at a cost but will guarantee a specific rate.
Talk to one of Bad
Credit Loans Expert consultants about your future plans. Some fixed facilities have limits on the amount of extra repayments allowed over the fixed period of the loan. If you think that you may want to make extra repayments, ensure that you mention this possibility when discussing your loan with us.
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Loans for bad credit ratings
Even if you have a bad credit rating due to default or judgement, all is not lost. A loan to suit your needs is still obtainable via the non conforming market. We deal with financial institutions that specialise in these types of situations. You can borrow up to 90% of the value of a property to refinance bad debts or purchase a home.
With the non conforming
product you can get back on track with your finances and have the
opportunity to start showing a good repayment history. Once this
repayment history can be proven, you will once again be within the
guidelines of the prime lending market. Don't be embarrassed about
your situation. Everyone gets into financial trouble occasionally.
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No Deposit Home Loan
Looking to purchase a new house, but having problems gathering your deposit? Then consider a "100% Home Loan". These loans enable many people to buy a property without a deposit. Why wait to save a deposit when you can own your dream house now via
Bad Credit Loans Expert. If you have a clear credit history and stable employment, speak to one of our experienced loan consultants about realising your dreams now.
With the current rising residential market its best to get in now and start earning equity in your property. If you were to take the time to save the necessary deposit you could loose money in the form of equity. In most cases a property that you want to buy now would be worth considerably more in 12 months time. Don't be a victim of the rising residential market and get in now.
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Offset accounts
Looking to save on your interest without pouring all your available funds into your home loan? By setting up an offset account, you can use your savings to reduce the interest on your loan without actually having to have the money tied up. An offset account links your loan to a saving account so that any savings you accumulate reduces the amount of interest within your repayments.
By keeping your savings out of your home loan, you have the option of accessing the funds at all times. As an offset account can appear to be quite confusing for many people, please contact
Bad Credit Loans Expert to discuss this product in further detail.
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Pay off your loan sooner
There are numerous tactics that can be used to save you money and allow you to pay off your loan earlier. With the experience the consultants at
Bad Credit Loans Expert have in all areas of lending it can only benefit you to discuss some of these options.
Talk to one of our consultants about ways you can pay off your loan sooner by facilities such as an offset account or by making more frequent payments. We can also show you how much you will save in interest by paying as little as $10 a week extra off your loan.
OWN YOUR HOME SOONER!
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Redraw facilities
A redraw facility is available when extra repayments are made on your home loan. Most financial institutions have the option of a redraw facility but they all have different policies in how the facility is operated.
By being informed of the options, you will have the cash available when you may need it most. Ask one of the experienced
Bad Credit Loans Expert consultants how you can structure your loan and maximise your savings.
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Split loans
There are so many loan options in the finance industry that you may want the security of one option but the flexibility of another. By splitting your loan you can have both.
If you have an investment property as well as a home, or want to fix a part of your loan for a period of time, you can have your loan split into 2 of more facilities to suit your needs.
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Line of Credit
Thinking of using the equity in your property for future investments? With a line of credit, utilise the equity you have in your property and make it easily accessible. With a Line of Credit you can have the equity of your property at your finger tips via a cheque book or key card.
With a Line of Credit you can use the available funds for any use whether it is for personal, investment or business use. It is up to you when you use your funds and what the funds are used for. There are many ways to operate your spending in conjunction with your line of credit. Contact us at
Bad Credit Loans Expert to find out how you can get set up and get the most out of your Line of Credit.
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Variable Rate Loans
A Variable Rate Loan is a standard mortgage, where the interest rate of the loan (and consequently the periodic repayments) can move in accordance with economic conditions at the time. With this facility you make principal and interest reductions in every repayment.
With a Variable Rate Loan you are able to pay lump sums off your loan without penalty. With this method you have the ability to pay off your loan much quicker. With some institutions there are Discount Variable Loan facilities where you receive a discount on the rate for the life of the loan. Contact one of the
Bad Credit Loans Expert staff for more information.
Fixed rates v's Variable
