The Mortgage Broker understands your needs and negotiates the best possible terms to meet your requirements. When you need to borrow more than 80 % of property valuation, we can set up an offset account to cut up your interest bill, organize redraw facilities for more flexibility and mortgage insurance. An offset account is basically an everyday usage account which allows you to deposit savings. Before calculating the interest bill for the month, account balance in subtracted from home loan. Mortgage broker in melbourne can refinance your current loans and extend your loan for a longer term. Three main kinds of loans offered are:
Home loan includes both redraw options and offset accounts. Experienced broker can offer good advice matching with your circumstances. An investment property loan is same as home loan but can also come with an interest only option. Loans can have the duration of 15 to 30 years. Variable rate loan allows making more flexible loan repayments which will reduce your loan balance unlike fixed rate loans. Support mortgage broker recommends you to fix your interest rate if you are struggling with your home loan and having limited capacity to make repayments in case of interest rate increase.
Personal loans are unsecured and can attract an interest rate of 3-4 % above a home loan rate. This loan can vary from 3 – 15 years. Such loans can be used for minor renovation or a holiday. Interest rate on credit cards may exceed 20 percent. That’s why www.mortgagebroker247.com.au would recommend to clients using credit cards to change to a personal loan on lower interest rates.
Overdraft helps to get through the troughs of the cash cycle. Overdraft rates are 2-4 % higher than the home loan rates. The …Read More