Bridging Finance is taken out when there is an overlap between the sale of one property and the purchase of another.

For Example:

• $450,000 Sale of Property 1 settles Jan 2007- Current Lan $300k.
• $550,000 Purchase of new property settles: Dec 2006

There is a short term finance required for 1 month between purchase of property 2 and sale of property 1. Total of $550,000 plus costs is needed to purchase new property before the funds from the sale can be contributed back.

With Bridging Finance there is alot that can awry. With Penalty Interest payable if settlements dates are extended.

We have over 1000 products available in our Mortgage Software Program. With the multitude of products on the market it can be an enormous task sorting through all the loans in the market place. Can you ever be completly sure you have the right deal.

We have the ability to compare loans apples to apples across over 1000 products.

Most of the loans we offer are the same loans you have access to. With the same interest rate, costs and fees. The benefits of a broker are in that we compare and offer the most competitive loan products for your needs on any given day. There are many boutique lender that offer unique and highly competitive products which we offer access to.

A small change in a mortgage can provide great savings, and also enormous cost.

Nick, a panel beater and his wife Lisa were expecting their first baby. With Lisa on maternity leave they were struggling to make the repayments on all their loans. They were concerned they weren’t going to be able to afford to keep up the repayments when the baby came along.

”We had a home loan and loans on two investment properties,” Nick said. “Because the loans weren’t structured properly and with Lisa given up work the interest was just getting too much for us to pay. We were worried we’d be forced to sell one of the properties we had worked so hard to buy. Loan Saver Network helped us out with refinancing our loans to a better interest rate and structure. This reduce our repayments by over $760 each month!! We are ecstatic with our savings and now have the peace of mind that we can easily afford our repayments even with our little one on the way.”

Lenders Mortgage Insurance (LMI) protects your lender in the event of you defaulting on your home loan. In the event that your loan is foreclosed, your property is subsequently sold and the amount from the sale is not enough to repay the loan in full, Mortgage Insurance will meet the shortfall for the lender.

Lenders Mortgage Insurance should not be confused with Mortgage Repayment Insurance which protects you in an event that prevents your Mortgage payment being made.

Lenders Mortgage Insurance is taken in conjunction with your Home Loan. Depending on your chosen lender your loan will be mortgage Insured above 65% LVR. The lender usually pays the Mortgage Insurance up to 80% LVR, the client usually pays (capitalises the premium to their loan) above 80%.

Lenders Mortgage Insurers have tighter policies and criteria for loans above 80% LVR and put restrictions on security locations and type, Client Income, and many other factors.

If you are looking at home renovation there are a number of finance options. When renovating, you may use Construction loans or home renovation loans, a Line of Credit, or a Redraw to secure the funds you need to build.

Home Renovation Loans are ideal for people who:

• Have grown out of their current Home but don’t want to move.
• Renovating is more cost effective than moving house.
• Resonable Current or Future equity.
• Have a Fixed Price Building Contract (if a Construction Loan)
• Want to obtain up to 100% LVR.

With Home Renovation Loans or Construction Loans you can:

• Borrow from $50,000 up to $2.5 million, for a period of 15 to 30 years
• Obtain up to 100% Loan to Value Ratio.
• Choose from a variable interest rate or a fixed rate for 1, 3, or 5 years .
• Repay your loan monthly, fortnightly or weekly including by direct debit
• Choose a Line of Credit facility, including phone or internet, ATM and EFTPOS Access and monthly statements.
• Clean or Impaired Credit History.
• Choose a 100% Offset Account, including phone or internet, ATM and EFTPOS Access and monthly statements.
• Obtain a Low Doc or Fully Verified Loan

Re-Structuring your loans allow you to structure your Loans or Portfolio to reduce outgoings, increase flexibility, manage or balance unusual income sources or other circumstances. The restructuring process takes into consideration advice from your accountant (if required) to identify and enable a suitable structure. You can be Full time employed or Self-employed people who have had an ABN registered for 1 day, 12 months and 2 years or more. You may fully disclose your income or choose to self verify as you do not have complete financials or you are not able or do not wish to produce full financials.

This type of loan is ideal for people who:

• May need to borrow more money than the limits imposed by tradition lenders
• May need to maximise their borrowing capacity.
• Restructure for Assett or Entity Protection purposes.
• Minimise your Holding Costs.
• Maximise your Returns.
• Looking to structure their lending for Future Investment Purposes and Opportunities.

With this loan you can:

• Borrow from $50,000 up to $2.5 million, for a period of 15 to 30 years
• Obtain up to 80% Loan to Value Ratio without paying the Lenders’ Mortgage Insurance premium.
• Obtain up to 95% Loan to Value Ratio with Mortgage Insurance.
• Chose from a variable interest rate or a fixed rate for 1, 3, or 5 years .
• Repay your loan monthly, fortnightly or weekly including by direct debit
• Chose a Line of Credit facility, including phone or internet, ATM and EFTPOS Access and monthly statements.
• Chose a 100% Offset Account, including phone or internet, ATM and EFTPOS Access and monthly statements.

Effective loan structuring takes into consideration many factors including:

• Ownership Entity
• Trust Structures
• Trading Entities
• Ongoing Cashflow of Investments
• Future Investment Opportunities
• Risk Identification
• Risk Minimisation
• Investment and Trading Cashflow
• Taxation Implications (Accountant Advice)

A correct loan structure is completed in conjunction with Accountants and if require, Legal Advice.

If you are a First Home Buyer and looking for advice and guidance to obtain finance, then we may be able to help. You qualify for the First Home Owners Grant (FHOG) and may have limited deposit or funds to purchase.

Please click on the links below for details of the loans available to First Home Buyers:

Fixed Rate Loan
Variable Rate Loan
100% Offset Accounts
100% Loan or No Deposit Loan

If you are self employed with assets and a regular income and you are wishing to borrow money to:

• Start up or invest in a new business
• Reduce borrowings
• Acquire equipment
• Employ additional staff
• Fund other expansion initiatives
• Working Capital
• Pay Tax Debts

You may choose to apply for either a Low Doc Loan or a Fully Verified Loan.

Self Certification (Low Doc) Loans

• If you choose to self-certify by applying for a Low Document Loan, you need to provide:
• A signed declaration that states your annual net income and confirms your ability to service the loan
  6 months mortgage and rental statements.
  If you choose a Fully Verified Loan you need to provide:
• Between one month and 6 months personal and business bank statements (depending on your application)
  Your Australian Business Number (ABN) registration documentation.
  

Fully Verified Loans

If you do have your financial records up to date, you also have the option to apply for a fully-verified loan in which you would need to provide tax returns.

There are a number of costs involved when buying a property.

Costs can be broken into two (2) Catagories:

Lender Charges - Lender charges can included solicitors fees, application fees, valuation fees, Lender Mortgage Insurance and any ongoing fees associated to the loan itself. There may also be Deferred Establishment Fees which is a deferred application fee that is waived if you keep your loan with the lender for a specific period of time.

Government Charges - Stamp Duty on the mortgage (state dependant), Transfer Stamp Duty, and Registration of title.

Costs to purchase a property are dependant on how much deposit you have and the purchase price of the property. You will recieve between $7,000 - $10,000 as a First Home Owners Grant toward your purchae.

Loan Saver Networks role in Mortgage Application process is to help identify a competitive and/or suitable product while minimising the costs to purchase.