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Home Loan Types

Our Expertise in Home Loan Types.

We have specialist expertise in the following areas ...

First Home Buyers:

Typically first home buyers are looking to borrow 100% or more of the property purchase price. We have a lot of experience in providing 90% to in excess of 100% home loans to approved applicants. No deposit are also available in some circumstances.

Non-Resident Loans:

We are able to assist both Australians living overseas and non-resident foreign nationals with loans secured by Australian property for either residential or business use. Loans for 457 visa holders, foreign citizens living in Australia on a working visa can all apply for Australian loans as can temporary residents living in Australia on a spouse or partner visa and foreign investors looking to purchase real estate in Australia.

Specialist Business Loans.

Loans for a wide variety of franchises can be arranged using industry standard financing models as can loans for pharmacies (including part purchases).

Minimising or avoiding LMI

Lenders mortgage insurance is an expensive insurance that many borrowers have to pay from which they derive no direct benefit. We have specialist ways of avoiding or minimising the amount you may have to pay.

Non-conforming Employment:

The reality today is that many people have income streams derived from non-conventional sources, and still are able to borrow for their home and investment properties. Their applications just have to be carefully prepared and presented. People often change jobs, change their working relationship from employee to sub-contractor or self employed, move from state to state, or metro to country and we still get their loans approved. Other applicants have only casual employment, with income coming from sales bonuses and commissions.

Unusual Repayment Options:

We are able to source loans for applicants who require a wide range of different repayment options due to circumstances of their income eg. seasonal cropping, investors realising returns, personal circumstances, sales of other assets or equipment and many others.

Basic Variable Rate Home Loan

A Basic Variable Rate loan is usually a 'no frills' version of the Standard Variable Loan, good for the budget conscious borrower. It generally offers a lower interest rate but with less flexibility and fewer features than the standard variable rate loan. In some cases there are also more restrictions on this type of loan and extra fees for extra flexibility. As with the Standard Variable Rate, the Basic Variable Rate is subject to decisions made by the Reserve Bank to cut or increase their official rate.

Standard Variable Rate Home Loan

The Standard Variable Rate loan is the most common type of loan. It is based on the official Reserve Bank rate and varies with time depending on the market. If rates go up so do the amount of your regular loan repayments. If on the other hand the Reserve Bank drops their official interest rate, then your repayments will be accordingly reduced.

This type of loan is the most flexible and may include optional features such as the ability to make extra repayments, to split the loan, or to redraw funds. It is often possible to incorporate an introductory discounted rate with a standard variable loan for the first 12 month period of the loan, at which time it then reverts to the standard variable rate for a prescribed period.

Fixed Rate Home Loan

The Fixed Rate Loan offers one key advantage over Variable loan types; the certainty of making a set loan repayment amount each month. Fixed Rate loans are based on a set interest rate for a pre-determined period of time that might run from 6 months to 10 years. If the Reserve Bank changes its interest rate, either for better or worse, up or down, this will have no impact on your regular repayment under a Fixed Rate schedule.

This provides some level of security for borrowers but a Fixed Rate Loan is the most inflexible of loan types. For example, additional repayments, made to reduce the term of the loan and interest payable on the balance of the loan, are penalised with extra fees.

Split Loan

The split loan offers a ‘best of both worlds’ scenario between the Variable and Fixed rate loans described above. If you are concerned about rising interest rates, but want to maintain the flexibility of making additional loan repayments without being charged extra fees, the split loan might be for you. Essentially, you split the total loan into two portions, making one portion a fixed rate loan, and the 2nd portion a variable rate loan. The split ratio is typically up to you but 50/50 or 60/40 splits are the most common.

Introductory or Honeymoon Rate Home Loan

Introductory loans offer an interest rate lower than the standard variable rate for an initial period of time, usually the 1st year of the loan. This rate may be fixed or variable and once the Introductory period concludes, the interest rate usually reverts to the standard variable rate. The advantage of this rate is that it offers borrowers a chance to ease their way into the burden of having a mortgage with this reduced rate. This ‘honeymoon’ period also allows you to save to purchase other essential household items in the first year.

Home Equity Loans

This type of loan allows you to access the equity in your existing property that can be used for other purposes such as holidays, renovating your home, investing in shares / managed funds or financing of investment property.

Line of Credit Loans

This type of credit allows the borrower to draw down any amount of the borrowed amount at any time up to the prearranged credit limit. This loan has no set term and is especially suitable for investment purposes. The loan usually attracts a higher interest rate due to the extra features and flexibility it offers. A disadvantage of operating such a credit facility is that undisciplined borrowers may reduce the equity they have built up in their home.

Low Doc Loans

Low Doc Home Loansand Low Doc Commercial Loans are often suitable for self employed of borrowers who do not meet standard lending criteria in general. These may include applicants who have bad credit history or are unable to provide the required full documentation in support of their loan application or wanting to borrow more than 100% of the property value.

Non Conforming Loans

Loans to Lifestyle are specialists in non-conforming loans with 24hr conditional approvals. Our long experience in successful businesses and our professional planning accreditations means we both understand the needs & operations of business and are able to secure the best finance package for you.

If you need a business loan, we will be pleased to talk to you about a loan designed to suit your specific business needs. We have direct arrangements with a wide range of lenders offering everything from traditional loan structures to private & special purpose loans.

All-In-One Loans

These loans are usually an everyday transaction account that's linked to your existing home loan. The benefit offered is that it reduces the amount of interest payable, by keeping your money in your loan account longer and only taking money out for your living expenses as required. This reduces the repayment amount owed on the outstanding loan balance therefore making your money work harder for you.

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