Whatever your circumstances, whether you are a first home buyer, growing family, buying an investment property, consolidating debt, accessing the equity in an existing property for retirement or any other purpose, or simply looking for a better deal, Guardian Mortgages & Finance is here to assist you.
With so many home loan products to compare, we can help you make the right decision. We will listen to you to establish what your needs are, and then match you to the right home loan product from one of our panel lenders.
Arrange on obligation free consultation today by either phoning us on 1300 01 5626 or emailing us via our Contact page.
Some of the types of home loan products available.
Basic Variable Rate Home Loan (BVR)
These are usually home loans with lower interest rates than the Standard Variable Rate products, however they usually do not have all the features available that a standard variable loan provides, e.g. some lenders charge fees for redraw and put limitations as to how much you can redraw at a time and they do not have a 100% offset account feature. The interest rate is subject to change, up and down, according to market conditions.
Standard Variable Rate Home Loans (SVR)
Standard variable rate home loans usually have a higher interest rate than Basic Variable Rate products, although they usually provide a lot more features or fewer restrictions that BVR products, e.g. 100% offset accounts. The interest rate is subject to change, up and down, according to market conditions. Some lenders offer discounts according to amount borrowed (generally $250,000 +) and can package these loans with other accounts such as savings/offset accounts and credit cards.
Fixed Rate Home Loans (FR)
Fixed rate home loans usually have a fixed interest rate for a specified period, ranging from 6 months to 10 years. This can give borrowers peace of mind that repayments will remain the same for the specified period. They usually convert the lenders standard variable rate at the end of the fixed rate period. Most lenders charge penalties to the borrower if they break a fixed rate contract before the end of the fixed rate period.
Introductory or Honeymoon Home Loans
Introductory or honeymoon home loans generally have a lower interest rate for an introductory period, generally 6 months or 12 months. They usually convert back to a higher rate, and in most cases, they convert back to the lenders standard variable rate after the introductory period. Some introductory rates are fixed and some are variable.
No deposit Home Loans
No deposit home loans are available from some lenders for First Home buyers and investors. This allows you to get in to the property market quicker. Usually there stricter guidelines in regards to a borrowers ability to repay and employment history and mortgage insurance costs are higher. Some lenders also charge higher interest rates.
Lo Doc Loans
Lo Doc loans are available for self employed borrowers who can not provide tax returns or financial statements. Generally there are limitations regarding the loan to value ratio (amount borrowed compared with value of property). Some lenders charge higher interest rates for these types of products.
Line of Credit/Equity Loan
Line of Credit/Equity loans are a facility with a credit limit giving the borrowers access to funds when required and the ability to pay down funds at any time without penalty. ATM access and cheque book facilities can usually be attached to this type of facility.
Additional Products & Services.
- Loan Protection - Product Overview
- Deposit Bonds
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Utility Connections with
Application Form - How To / Terms & Conditions - House and Contents insurance
If you would like further information on any of the above products & services, please call us on 1300 01 5626, or provide your details via our Contact page.
