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.

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)

Construction loans are usually set up by the lender initially as a standard variable loan. Throughout the construction of the dwelling, there are up to 5 progress drawdowns of the loan. The first draw down is when the slab is laid, through to final drawdown when the house is finished.

The purchase of the land can be a second loan, or combined with the construction loan.

Lenders have different policies and procedures for Construction Loans. The value of a Constructed Property is mostly seen as the value of the land + the value of the Fixed Price Building Contract. The lender will use this figure as a valuation as opposed to the actual proposed end valuation.

There are many options for Construction loans, each to suit a variety of circumstances.

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.

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.