One of the Most Popular Australian Home Loans in the Market

One of the most popular Australian home loans in the market, the interest rate in a standard variable home loan can vary throughout the term of the loan, as it depends on the interest rate set by the Australian Reserve Bank. If interest rates fall, your home loan repayments will come down, However, if the interest rates increase, so will your monthly home loan repayments.

Most borrowers prefer a standard variable home loan because they are the most flexible home loan available and offer a range of features, such as a redraw facility, repayment frequency flexibility, portability, the ability to make extra repayments without penalty, line of credit, offset accounts, redraw facilities and the flexibility to split your home loan.

Advantages of a Standard Variable Home Loan

  • If interest rates drop, repayments might drop
  • Big savings when the rates are low
  • You can make additional payments without penalty
  • Additional repayments can usually be taken back or redrawn by you
  • This product is flexible, for example, it allows borrowers to make extra repayments off the home loan principal without incurring any penalties. It can also provide you with the option to re-draw additional funds paid off the loan principal
  • Wide choice of home loan features, including a line of credit, offset account or cheque account

Disadvantages of a Standard Variable Home Loan

  • When interest rates rise, so do your repayment
  • This type of home loan usually attracts a higher interest rate than basic home loans

Featured Videos

Featured Video Title

The only broker in Australia who offers owner builder finance of its kind. Get your home loan now.

Featured Video Title

The only broker in Australia who offers owner builder finance of its kind. Get your home loan now.

Featured Video Title

The only broker in Australia who offers owner builder finance of its kind. Get your home loan now.

The only broker in Australia who offers owner builder finance of its kind. Get your home loan now.

Videos for Owner Builders

You should seek pre approval before entering into an owner builder arrangement. The reason is simple, building is a complex excerise requiring good co ordination and technical skills.

Articles for Owner Builders

Lenders are aware of the complexity owner builders face, and the possibility of costs over runs. This comes primarily from in-experience with managing this type of project. Hence most lenders are not generous when it comes to lending at high LVR’s on an owner builder loan.

Frequently asked questions

Why utilize or use an owner-builder expert?

Utilize an owner-builder loan broker that has a particular expertise. We know which moneylenders can help you compare different options between them and normal construction loans that can enable you to make choices.
We can likewise show your application in an ideal way to the loan specialist with the goal that the banks/lenders see your application in the most appealing way that is available. We can likewise manage you all through the entire procedure and make it as smooth as would be prudent.

How does owner-builder loan work?

In case you’re endorsed for an owner-builder loan, the loan specialist will discharge the assets to you as advance installments as opposed to in a singular amount as it would with a standard mortgage/ loan. As you finish each phase of development, a valuer will evaluate the work and after that approve the loan specialist to give next advance installment

How to maximize your chances of being approved?

It is safe to look for pre-approval before entering an owner builder arrangement. Pre-approval will give you a thought of what your maximum loan will be, which can enable you to decide whether or not its the correct choice for you.

How much can I borrow?

If you are an owner builder without any prior experience in building the amount you can borrow will range only from 50% to 70% of the total construction cost. You can get a bigger loan if you are a licensed builder or have the supervision of license builder. Generally, a licensed builder can get approved for up to 80% of the total construction cost.

How to apply for owner builder loans?

We’ll ask for certain documents for owner builder loans to be approved. These are the following: Builder’s permit, budget and its proposed breakdown, project plan, copy of your builder’s insurance, and a clear construction cost estimate.

What is Bad Credit?

When you’ve got a bad credit history you’re typically not qualified for a loan from a bank or traditional credit lender. However, there are loan options available. You’ll simply need to show that you can repay the loan by providing evidence of a regular income, whether that’s through employment or Centrelink. If you’re unemployed and require a loan.

How can I get approved for a loan if I have bad credit?

Fortunately, there are lenders out there who look beyond your credit file. These bad credit loan lenders will take into account income, equity and other things that will enable you to acquire an advance.

How do I get a home loan with bad credit?

One of the fundamental factors that will decide whether you will be accepted will be your income and the nature of your bad credit. Typically, if your bad credit was triggered by a life event then lenders tend to be more understanding. However, if you were aware of your bad credit but continually and knowingly made it worse, then lenders may be more skeptical. Regardless, researching your options, attempting to fix up your credit and choosing an expert loan specialist to run with should enable you to get back on track.

About Us

Our mortgage broking is second to none. Don’t waste your time and money running around from bank to bank, sifting through ambiguous loan offers only to find they don’t work. Take advantage of our expertise and let us find the right loan or finance to suit YOUR needs.