Phone: 1300 100 500
Phone: 1300 100 500
Whether you are looking to buy a new or used car it pays to shop around and compare car finance providers. Let car loan comparison find the car loan that suits your needs.
Our home loan service offers you a wide choice, convenience and a high quality service tailored specifically to you.
Our business loan comparison service can assist with your Commercial loan and other Business Loan requirements.
Line of Credit ---- An interest only variable rate loan secured against a residential property allowing access to funds whenever you need them. They have the added flexibility of a transaction account built into the home loan. Line of credit products are flexible ways to raise funds for investment purposes by providing cash at call up to the prearranged credit limit.
Advantages: You can use the money as you need it and pay it back when you can; Interest rates tend to be lower than for credit cards or personal loans; Credit limits are usually higher than for credit cards or personal loans.
Disadvantages: Unless you are careful, it's possible to reduce the equity you have built up in your home.
Standard Variable Loans --- Australia's most popular type of home loan. The interest rate can vary through out the term of the loan - both up and down. The term is usually 25 to 30 years.
Advantages: If interest rates fall, your repayments will come down; You have the option to fix or split your loan; can make additional repayments without incurring a penalty and the option to redraw the additional funds; More flexibility than other types of loans.
Disadvantages: If interest rates rise you will have to make higher repayments.
Basic Variable Loans --- Many lenders now offer basic variable loans with lower interest rates than standard variable loans but with fewer features. Like all variable loans, the interest rate and your repayments can vary over the term of the loan.
Advantages: The biggest advantage is price. Basic variable loans have a relatively low interest rate;
Disadvantages: Most of these loans do not offer the same range of features or flexibility as other variable interest rate loans. However, borrowers can opt to pay for additional flexibility and features.
Fixed Rate Loans ---- With a fixed rate mortgage your monthly repayments will stay the same regardless of whether interest rates rise or fall. Most people choose to fix their rates for between one and five years, although longer and shorter deals are available.
Advantages: The security of knowing that your repayments will not increase for the fixed period.
Disadvantages: If interest rates fall during the fixed period you will be paying a higher rate by comparison; fixed loans can also have high break costs if you want to break the loan during the fixed rate period.
A Commercial Hire Purchase is a commercial financial product where the customer hires the vehicle from the financier or lender for a fixed monthly repayment over a set period of time. Under a commercial hire purchase the financier agrees to purchase the car on behalf of the customer and then hires it back to the customer over a set period of time. The customer has the use of the vehicle but is not the owner.
The customer does not become owner of the motor vehicle until all monies owed under the arrangement are paid. If the vehicle is used for business the customer can claim a tax deduction for the depreciation on the motor vehicle and interest on the loan. When the final payment of the commercial hire purchase is made the title to the motor vehicle is transferred to you.
Short Term Business Funding is usually secured by Caveat or Second Mortgage and these loans need to be for Business and Investment purposes. Business funding can be used to assist with working capital management and to assist with short term cash flow problems.
In many cases these business loans are used as bridging finance loans to bridge the funding gap.Short Term Business Loans and bridging finance are secured by caveat or registered mortgage taken over a suitable security property for business purposes.
Business Funding can assist with improving control over business cash flow and Debtor Finance can help release the family home debt from the business. Better business funding can also improve margins by providing more buying power and as well as greater certainty in making strategic business decisions.
A Mortgage Broker is a go between between the borrower and lenders who include banks, non banks and building societies who can help negotiate the loan on your behalf. Mortgage brokers will do the legwork and research on products in the mortgage market from the hundreds that are available and then faciliitate the application to the lender and all the way to the settlement process.
Mortgage Brokers generally do not charge the borrower for their service as they are paid a commission by the lenders on their panel for loans introduced to them. With Loancomparison.com.au once your loan settles you will become a valued member of our Ongoing Customer Care Program.
There are many reasons for Refinancing your Mortgage including the fact that you want a better deal or maybe your current home loan doesnt suit your needs. Other reasons include consolidation debt and needing extra funds for a worthwhile purpose which could be buying a new car. Home Loan Comparison can help do the running around for you and we may be able to improve your current situation.
Over time your financial or personal situation may change. For example you might go from a payg salary to the more uncertain income of being self employed. You may be considering refinancing because there is a lot more competition between lenders and the introduction of new products might suit your situation better.
The refinancing process is similar to when you first took out your home loan.The new lender will require pretty much the same information for eg ( pay slips , current assets, current debts, credit card limits etc), and will perform a credit check and do a valuation to ascertain a current market value for your property.
