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

These loans are designed specifically for Owner Occupiers and Investment clients who can fully veriify their income. You can be Full-time/Part-time or Self-employed people (with an ABN registered for 1 or 2 years or more). 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 100% Loan to Value Ratio.
• Choose from a variable interest rate or a fixed rate for 1, 2, 3 or 5 years
• Repay your loan monthly, fortnightly or weekly including by direct debit
• Choose a Line of Credit facility (up to 90% Loan to Value Ratio) , including phone or internet, ATM and EFTPOS Access and monthly statements.
• Choose a Offset Account (up to 95% Loan to Value Ratio) , including phone or internet, ATM and EFTPOS Access and monthly statements.

This type of loan is ideal for people with full financials and who:

• May need to borrow money for debt consolidation, investment or personal purposes.
• Are able to fully verify their income.
• Have equity in their own home or a deposit.

There are a number of costs involved when refinancing. Be sure to calcualate the total savings over your loans life when choosing a product, or it just may be better off staying put.

Costs can be broken into two (2) Catagories:

Lender Charges - Lender charges can included solicitors fees, application fees, valuation fees 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), registration of title and deregistration of title.

Loan Saver Networks role in Mortgage Application process is to help identify a competitive and/or suitable product while minimising the costs to refinance. Refinancing should provide either a cost or other advantages.

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

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

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.

No Deposit or 100% Loans are designed to cover the full purchase price of a property. They are very useful loans for First Home Buyers, Divorcees or people with a limited deposit. First Home Owners Grant can be credited to costs to purchase.

The name of this product is a little incorrect, as it represents that there is no need for the client to contribute any money to the purchase. This is not the case. The 100% loan is for the purchase price, but all other costs must be covered by the purchaser. Other costs to consider (eg. $250 purchase in Victoria)

Example:

• Purchase Price: $250k (100% loan)
• Application Fee: $600
• Legals: $220
• Stamp Duty: $10,660
• Lenders Mortgage Insurance: $6,250

Total Monies required to settle on the property is: $17,710

Things to consider:

• Be sure you have enough deposit.
• Deposit Bond may need to be used to secure purchase with Real Estate Agent.
• Very tight Lender Guidelines for no Deposit Loans including Postcode restrictions.

If you are building a house and you require Construction Loans, we may be able to help. 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.

When building a house you will need to plan carefully. Plan your finance alongside your cxonstruction.

There are differences between Construction Loans but generally you will require the following.

• Enough Funds to settle on your construction or
• Good current equity to secure your choice of construction loans or 5% deposit.
• Have a Fixed Price Building Contract.
• Are planning to build but have not started.

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 100% Loan to Value Ratio with Mortgage Insurance.
• Obtain a Low Doc Loan up to 80% Loan to Value Ratio (LVR).
• 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
• Loan Funds presented in 3 to 5 stage payments toward settlement.
• Clean Credit History (minor Credit Defaults only).
• With this loan you may require a Fixed Price Building Contract.