Richard and Maggie were concerned with being close to retirement age still with a sizable mortgage on their own home, with no savings or investments. They had hopes and dreams of buying a business as a vehicle to clear their debts and have a comfortable lifestyle in retirement.

“We found the business opportunity that suited our needs but we were concerned that because of our ages, with limited superannuation and equity in our own home, the traditional lenders would not help us.” said Richard. “We were referred to Loan Saver Network by James Home Services. They were fabulous. We had a tight timeframe… but with Loan Saver Network we were able to meet the deadline and secure the franchise we wanted.” “It’s a dream come true being our own bosses and not only earning a great income from the business but with the help of Loan Saver Network we are now setting up the foundations to buy our first investment property.”

A lender will need to verify all information included in an application. Some information is obtained in your credit file, but in most cases you will need to provide the information below.

• Wage slips, Letter from your employer.
• Previous two (2) years Tax returns (or self declaration form if low doc loan)
• Rates notice or Property Title.
• 6 Months Home loan statements
• 6 moths other loan statements (if consolidating)
• Proof of Deposit (if first home buyer)
• There may be other supporting information required for complex lending structures.

We will provide you a list of items to collect following our needs analysis and identifying a choice of products.

A credit report is prepared for all people who have ever applied for credit. It is a document a lender will access to assess the credit worthiness or risk associated with a client.

Knowing what is in your Credit Report can help you:

• Keep track of your credit-worthiness
• Be aware of any errors or inaccuracies that may affect your credit rating that need to be investigated and corrected
• Be alert to any possibility of financial fraud against you
• Be empowered to sart the process to repair any “marks” against you that may affect your ability to gain approval for a loan.

If you have glitches in your Credit Report or Credit Defaults you may still have loan options. Loan Saver Network specialises in Loans for the Credit Impaired.

Buying a house anytime can be a stressful situation. There are many things to consider in a purchase, with the chance that the tiniest miscalculation could cost you 100’s or 1000’s of dollars.

Do you need Bridging finance? Have you got enough funds to settle your purchase?

This type of loan is ideal for people who:

• Looking at buying a House.
• Structure their loans for best cash flow returns.
• Selling their existing property or simply buying a new property.
• Require Bridging Finance to help in the transition from one property to another.

When buying a house the loan features available include:

• Borrow from $20,000 up to $2.5 million, for a period of 15 to 30 years.
• Obtain up to 110% Loan to Value Ratio on your purchase to cover purchase costs.
• Choose from a variable interest rate or a fixed rate for 1, 2, 3, 4 or 5 years.
• Loans can be Interest Only or Principal and Interest.
• Repay your loan monthly, fortnightly or weekly including by direct debit
• Choose a 100% Offset Facility, including phone or internet, ATM and EFTPOS Access and monthly statements.
• Choose a Line of Credit Facility, including phone or internet, ATM and EFTPOS Access and monthly statements.
• Clean or Impaired Credit History. *Conditions Apply

Fixed rate loan is simply a loan with a fixed Interest Rate and Term of the Fixed rate. After the Term has lapsed the rate will usually revert to the standard variable rate for that bank, at this time you will need to choose a competitive product to transfer to.

Fixed Rate loans won’t suit all borrowers. There are Restrictions on making extra repayments and there can be early payout fees attached. Appropriatte Loan structuring can provide an all-round solution.

Most Fixed rate loans prevent you paying off your loan as quick as you might like, but there are flexible fixed loans around.

Variable rate loan is a loan with a variable Interest Rate. The interest rate is linked to the RBA (Reserve bank of Australia) rate and will fluctuated along with this rate. Variable rate loans can tend to be of a flexible nature and can have features included where fixed rate loans have not.

There are generally no restrictions on making extra repayments though lenders are beginning to include early payout fees if the loans are closed in a pre-determined period of time (eg 4 years). Appropriatte Loan structuring can provide an all-round solution.

Variable Rate loans can have benefits such as:

• Available to make extra repayments
• Redraw
• 100% Offset Facilites attached.
• Line of Credit Facilituies
• Interest Capitalisation (product specific)