These loans are the most common type available. The variable rate loan offers more features and flexibility than the basic or "no frills" loan, so the rate is usually slightly higher. The extra options (for example a redraw facility, the option to split between fixed and variable, extra repayments and portability) should be taken into account when choosing your type of variable loan. Repayments will vary as interest rates fluctuate.
These loans are set at a fixed interest rate for a specified period (usually one to five years). The advantage of allowing you to organize your finances and repayments without the risk of rising interest rates is offset by the disadvantage of not benefiting from a drop in rates. At the end of the term all fixed loans automatically revert to the applicable variable rate. At this stage you have the option to lock in another fixed rate for a new term, switch to variable or go for a loan where you split with a percentage fixed and the remainder variable. However these loans may have limited features and lack the flexibility of 100% variable loans. There may be early exit fees and limited ability to make extra payments.
An offset account is a savings account attached to your loan account. Money in this account is offset against the loan amount thereby reducing interest payable. Significant savings are made by reducing compound interest with the use of these accounts. Other advantages of an offset account include being able to pay off your home loan faster than the repayment schedule demands and being able to redraw money if the need arises.
These loans are offered to provide an all-in-one home loan package. They offer interest rate and fee savings on your home loan, credit card and transaction accounts. Some lenders also waive the annual fees for your credit cards. An annual fee ranging from $120 to $395 is usually applicable on these loans. Professional packages can also offer amazing flexibility, with some lending institutions willing to waive product switching fees when changing from a variable to a fixed rate or converting a principal and interest type loan to an interest only loan.
If you're building a new home or planning major renovations to your existing home, a construction loan is generally the most appropriate funding option. The difference between a construction loan and other types of loans is that a construction loan is drawn down in stages and not paid as a lump sum. The drawdowns enable the builder of a home to finance the various stages of the construction process from the acquisition of land to the various stages of building.
A bridging loan may be necessary to cover the financial gap when buying one property before the existing one is sold. This finance is generally secured against your property as you are utilising the equity in your existing property. Usually bridging loans are short term and more expensive than other types of loans.
A reverse mortgage loan is a loan for people 65 years and over against the equity or asset value in their home, holiday home or investment property. This equity can be taken out in a lump sum, through regular ongoing payments or a combination of both. Interest is added and no repayments are necessary. The principal loan amount is not required to be paid back until the borrowers either pass away or leave the home. Legal advice is recommended prior to considering this type of finance.
A Personal Loan can help create the lifestyle you want.
Why wait for that big ticket item when you know you can meet the repayments now? Our personal loans are secure, affordable and give you the freedom to do what you want, when you want it. You can use our personal loans to consolidate your debts, renovate your house, have your dream holiday, and have your fairytale wedding or any other worthwhile purpose.
Did you know you can take control of your retirement by using your superannuation to borrow money and invest in property of your choice. Our expert team of finance, planning and accountancy professionals will walk you through the entire process hand in hand. We can even provide a list of suitable investment properties to take away the guesswork.
Things you may not know:
Cost on set up for the Bare Trust or Installment Trust can vary greatly depending on who you use - estimate $5000
Property has been considered a popular path to wealth for Australians for many years. Buying their own home is often the first significant investment most people make. Vital Homeloans have a variety of investment loans can help first time homebuyers and investors to navigate the right path.
Property investments are not always a simple procedure. Whether building or buying established, it's often hard to know where to turn for advice and where to look for the investment best suited for you. You may not even be sure which is the right type of investment for you. Vital Homeloans have a high level of experience with these matters and can even include buyer's agents that, for a fee, can research, locate and even negotiate the purchase for you. More often than not, finding an area with a driver behind it is essential for capital growth. A new school, shopping Centre or rail link can add value to a purchase that many may not even be aware of. Subdivision of an existing property can also offer a great way to increase value to an investment but…. how do you do this? Lean on our skill-sets and experience to help provide the information you need to make an educated decision on your future in property investment.
Vital Homeloans can advise on the best business loan products to fund your business growth and finance business initiatives. You have a choice of repayment options to suit your cash flow requirements as well as the choice of fixed or variable interest rates.
Business loans are available with loan terms of more than one year.
Working for yourself instead of a company or business is not always easy. Contractors and the self-employed don't always have the same financial structure or income patterns as PAYG earners. No doc / low doc loans offer finance solutions for the self-employed without full financials.
The strict lending criteria enforced by banks often makes applying for and securing a self-employed loan both time consuming and overwhelming. If you are self-employed and cannot present company and personal tax returns then a low doc commercial or business loan may be the right solution for your borrowing needs.
Come and talk to us. We can find and finance your new vehicle.
We take the stress out of financing your new motor vehicle by finding the deal that best suits your needs. If you've got a finance quote from the car dealer bring it to us. We'd love to take a look and show you other options.
No worries, we have access to awesome prices through our National Car Buying Group. Let us know what car you're after and we search to country for the best price, and we can even help offload your old car!
We can help! Our National Car Buying Group can help with sourcing your company's new vehicles and we can assist with the most suitable finance. One vehicle or One Hundred vehicles we can help.
Do you need machinery for your business to expand or keep up with demand? Equipment finance for things such as; Light Commercials, Trucks, Trailers, Forklifts, Earthmoving, machinery, tools etc
Equity release for genuine business purpose (including ATO debt repayment).
We have the ability to source any make and model car throughout Australia. Adrian and Deborah are the members of our vehicle buying service. We believe that Adrian and Deborah can offer a service that will be of benefit to all of you, saving you both time and money. Adrian and Deborah source new or pre-owned vehicles Australia wide, delivering to your door and can assist with your trade. Give us a call to discuss how they can further assist you. This is an additional service that we extend to all our clients for no charge. If you would like to take advantage get in contact with our office for more information.
These loans are the most common type available. The variable rate loan offers more features and flexibility than the basic or "no frills" loan, so the rate is usually slightly higher. The extra options (for example a redraw facility, the option to split between fixed and variable, extra repayments and portability) should be taken into account when choosing your type of variable loan. Repayments will vary as interest rates fluctuate.
These loans are set at a fixed interest rate for a specified period (usually one to five years). The advantage of allowing you to organize your finances and repayments without the risk of rising interest rates is offset by the disadvantage of not benefiting from a drop in rates. At the end of the term all fixed loans automatically revert to the applicable variable rate. At this stage you have the option to lock in another fixed rate for a new term, switch to variable or go for a loan where you split with a percentage fixed and the remainder variable. However these loans may have limited features and lack the flexibility of 100% variable loans. There may be early exit fees and limited ability to make extra payments.
An offset account is a savings account attached to your loan account. Money in this account is offset against the loan amount thereby reducing interest payable. Significant savings are made by reducing compound interest with the use of these accounts. Other advantages of an offset account include being able to pay off your home loan faster than the repayment schedule demands and being able to redraw money if the need arises.
These loans are offered to provide an all-in-one home loan package. They offer interest rate and fee savings on your home loan, credit card and transaction accounts. Some lenders also waive the annual fees for your credit cards. An annual fee ranging from $120 to $395 is usually applicable on these loans. Professional packages can also offer amazing flexibility, with some lending institutions willing to waive product switching fees when changing from a variable to a fixed rate or converting a principal and interest type loan to an interest only loan.
If you're building a new home or planning major renovations to your existing home, a construction loan is generally the most appropriate funding option. The difference between a construction loan and other types of loans is that a construction loan is drawn down in stages and not paid as a lump sum. The drawdowns enable the builder of a home to finance the various stages of the construction process from the acquisition of land to the various stages of building.
A bridging loan may be necessary to cover the financial gap when buying one property before the existing one is sold. This finance is generally secured against your property as you are utilising the equity in your existing property. Usually bridging loans are short term and more expensive than other types of loans.
A reverse mortgage loan is a loan for people 65 years and over against the equity or asset value in their home, holiday home or investment property. This equity can be taken out in a lump sum, through regular ongoing payments or a combination of both. Interest is added and no repayments are necessary. The principal loan amount is not required to be paid back until the borrowers either pass away or leave the home. Legal advice is recommended prior to considering this type of finance.
A Personal Loan can help create the lifestyle you want.
Why wait for that big ticket item when you know you can meet the repayments now? Our personal loans are secure, affordable and give you the freedom to do what you want, when you want it. You can use our personal loans to consolidate your debts, renovate your house, have your dream holiday, and have your fairytale wedding or any other worthwhile purpose.
Did you know you can take control of your retirement by using your superannuation to borrow money and invest in property of your choice. Our expert team of finance, planning and accountancy professionals will walk you through the entire process hand in hand. We can even provide a list of suitable investment properties to take away the guesswork.
Things you may not know:
Cost on set up for the Bare Trust or Installment Trust can vary greatly depending on who you use - estimate $5000
Property has been considered a popular path to wealth for Australians for many years. Buying their own home is often the first significant investment most people make. Vital Homeloans have a variety of investment loans can help first time homebuyers and investors to navigate the right path.
Property investments are not always a simple procedure. Whether building or buying established, it's often hard to know where to turn for advice and where to look for the investment best suited for you. You may not even be sure which is the right type of investment for you. Vital Homeloans have a high level of experience with these matters and can even include buyer's agents that, for a fee, can research, locate and even negotiate the purchase for you. More often than not, finding an area with a driver behind it is essential for capital growth. A new school, shopping Centre or rail link can add value to a purchase that many may not even be aware of. Subdivision of an existing property can also offer a great way to increase value to an investment but…. how do you do this? Lean on our skill-sets and experience to help provide the information you need to make an educated decision on your future in property investment.
Vital Homeloans can advise on the best business loan products to fund your business growth and finance business initiatives. You have a choice of repayment options to suit your cash flow requirements as well as the choice of fixed or variable interest rates.
Business loans are available with loan terms of more than one year.
Working for yourself instead of a company or business is not always easy. Contractors and the self-employed don't always have the same financial structure or income patterns as PAYG earners. No doc / low doc loans offer finance solutions for the self-employed without full financials.
The strict lending criteria enforced by banks often makes applying for and securing a self-employed loan both time consuming and overwhelming. If you are self-employed and cannot present company and personal tax returns then a low doc commercial or business loan may be the right solution for your borrowing needs.
Come and talk to us. We can find and finance your new vehicle.
We take the stress out of financing your new motor vehicle by finding the deal that best suits your needs. If you've got a finance quote from the car dealer bring it to us. We'd love to take a look and show you other options.
No worries, we have access to awesome prices through our National Car Buying Group. Let us know what car you're after and we search to country for the best price, and we can even help offload your old car!
We can help! Our National Car Buying Group can help with sourcing your company's new vehicles and we can assist with the most suitable finance. One vehicle or One Hundred vehicles we can help.
Do you need machinery for your business to expand or keep up with demand? Equipment finance for things such as; Light Commercials, Trucks, Trailers, Forklifts, Earthmoving, machinery, tools etc
Equity release for genuine business purpose (including ATO debt repayment).
We have the ability to source any make and model car throughout Australia. Adrian and Deborah are the members of our vehicle buying service. We believe that Adrian and Deborah can offer a service that will be of benefit to all of you, saving you both time and money. Adrian and Deborah source new or pre-owned vehicles Australia wide, delivering to your door and can assist with your trade. Give us a call to discuss how they can further assist you. This is an additional service that we extend to all our clients for no charge. If you would like to take advantage get in contact with our office for more information.
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ABN - 976 200 876 49 ACN - 620087649
License: Vital Homeloans Pty Ltd and Raelene Hutchings are Authorized Credit Representatives (No 501910/502264) of BLSSA Pty Ltd ACL No 391237.
Information provided on this website is general in nature and does not constitute financial advice. Vital Financial Planning Pty Ltd will endeavour to update the website as needed. However, information can change without notice and Vital Financial Planning Pty Ltd does not guarantee the accuracy of information on the website, including information provided by third parties, at any particular time.
Every effort has been made to ensure that the information provided is accurate. Individuals must not rely on this information to make a financial or investment decision. Before making any decision, we recommend you consult a financial planner to take into account your particular investment objectives, financial situation and individual needs.
Vital Financial Planning Pty Ltd does not give any warranty as to the accuracy, reliability or completeness of information which is contained in this website. Except insofar as any liability under statute cannot be excluded, Vital Financial Planning Pty Ltd and its employees do not accept any liability for any error or omission on this website or for any resulting loss or damage suffered by the recipient or any other person.