There are hundreds of home loans available. I will help you understand the different types of loans available including the benefits of each feature and how different structures could assist your future plans.
I will assist you by comparing home loans, loan features, fees and charges to help find the most competitive loan for your lifestyle and financial situation.
If building, you need to consider how you will manage your finances during the construction of your new home too. As part of my service I can assist you in understanding how construction loans work and help with getting your progress payments made to your builder. Every lender has different requirements for when and how a construction loan is managed so get an expert on your side.
Loan Types I Offer
Basic Variable - A basic variable rate loan provides a discounted rate combined with minimal features so you are not paying for features you do not need or use. These loans are variable so the interest rates and therefore the repayments may go up or down during the term of the loan.
Fixed Rate Loans - Fixed rate loans are where your interest rate does not to change during your fixed rate period so neither will your repayments. This loan is like an insurance policy to protect against interest rate rises. There are penalties for breaking from a fixed rate loan so you need to consider if this loan type is suitable for your individual needs and objectives.
Construction Loans - Specific loans are required for construction so that the loan can be drawn down progressively as the property is constructed. Loans are generally interest only during the construction phase to minimise outgoings as the property is built. At each stage of the construction - base, frame, roof, fit out and handover a progress payment is made to the builder.
Split Loans - This is an alternative and traditional solution to rising rates – Fix some of your loan for security and keep some variable to give you the flexibility to repay extra off your loan. Split loans are often used under a professional package to minimise application fees and account keeping fees where multiple loans are in place.
A professional package can provide access to extra benefits that are not available with a standard home loan. Additional benefits such as discounts off the standard interest rates, account-keeping fee waived on transaction accounts, annual fee waived on credit cards, discounts on insurances and other financial planning discounts. With professional packages you could have multiple loans under the one package saving on fees overall if these were all on standard loans with monthly account keeping fees.
"John Paine provided us with everything we need. John made sure we were comfortable with our decisions and I cannot complement him on his services any higher. I honestly believe that John could not have done anything more to assist us." Jarrad & Sam, Fern Bay, NSW.