Logical Choice Finance
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Getting Started (Your first step to the right home loan) Reverse Mortgages / Equity Release Getting a home loan that is right for you is probably one of the most important decisions you will make for yourself and your family. The right home loan can save you thousands of dollars, years in repayments and take a lot of the stress out of buying a house or investment property. Our Brokers spend the time to research and fully understand all the different mortgage and home loan products available from both the major banks and specialist mortgage houses on our panel of lenders. Using this knowledge we can help you to choose the right home loan for your needs, and, because we source our income directly from the lenders, we do not charge you a fee. Furthermore, lenders DO NOT charge borrowers more for any loan submitted by a mortgage broker. We take the sales hype and confusion out of the bank’s home loan products to get at the facts you need to make an informed decision. If you need more information to help you with with your important decision, please Click here. Some time ago, the Commonwealth Government introduced the First Home Owner Grant (FHOG) scheme to offset the effect of GST . The FHOG is currently $14,000 or $21,000 if building a house. Briefly, the FHOG is available to persons who are Australian citizens or permanent residents, buying or building their first home in Australia. You should refer to http://www.osr.qld.gov.au/fhog/first-home-owner-grant/index.shtml for full terms and conditions of the scheme, or to find out more, please Click here. Government Concessions for Home Buyers The Queensland Government assists people buying their first home with generous concessions on transfer duty. Other people, buying a home for owner occupation receive concessions too. For more information, refer to http://www.osr.qld.gov.au/taxes/duties/types/transfer.shtml or contact us. Getting Started (Your first step to the right home loan) The process of finding the right loan and checking out all the banks different loans, and your specific borrowing capacity can be a time-consuming and confusing adventure. We make it easy for you by taking all the leg work out of the equation and putting our experience and relationship with the banks to work for you. More and more Australians are using Mortgage Brokers to guide them through the home loan maze. We save you time by bringing the major lenders to you all at one time, instead of you having to go from bank to bank trying to make sense of it all. We will research suitable lenders based on your borrowing capacity, then provide you with a shortlist of their loan products with information about various features and benefits to suit your long term or short term needs. Our Broker will explain the information about the various loans in plain English, so you will know which loan will best suit your needs. We are able to provide our free home loan service as our panel lenders pay us a commission on settlement of your loan. Please click here for for more information about lenders and their types of loans.
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process of purchasing a property and of applying for a loan. Building a new home can be a complex and challenging business. Starting from scratch with a new block of land requires planning, preparation, organisation, approval from the authorities and other time-consuming tasks. But the rewards can be significant. For starters, you get to build the home that you want, to your design and specification. There are many factors that come into play when considering a home loan or mortgage to pay for your block of land and building the home. Issues such as paying the builder as stages are complete, monthly interest costs mortgage insurance can impact heavily on your budget. To make it easier on you, our Broker can manage the entire financing and home loan component of building your new home. We can negotiate with lenders on your behalf and find the right home loan to match your building program. Best of all, there is no cost to you for our service as we receive a commission from the lender on settlement of your loan. To get more information about construction finance click here. Renovating your home is a great way of increasing the value of your home or making the most of your lifestyle. Although small renovations can usually be paid for upfront, major renovating projects sometimes require significant capital outlay. By refinancing your existing home loan, you can access extra capital required to pay for your renovation project. Using your available equity in your existing home is likely to be the best option because of the potentially lower interest rates compared to a personal loan. Additionally, some lenders have loan products that are especially designed for home renovators. To get help with your renovation loan requirements, click here. The home loan market in Australia is very competitive with literally hundreds of different lenders all offering different home loan packages with different features. Home Loan lenders are eager to structure a loan package or individually tailor a loan solution to meet your individual needs. Refinancing is usually the process of paying off one home loan with a loan from another lender. This basically helps you to shop around for the best home loan as lenders introduce new products which may offer lower rates or better terms and conditions. Having already gone through the process of obtaining a home loan, you will likely know the basics of refinancing. Can you really afford the time and hassle to go through that entire process again? Our Brokers can do all the work for you. We will review your particular situation and match the best home loan for your needs from our panel of lenders. There are plenty of advantages in refinancing your home loan or mortgage. Aside from lower interest rates, you can also save money on fees by refinancing your loan through another lender. But beware. There are pitfalls to be aware of that could cost you even more money. Costs such as new mortgage insurance, early repayment fees and documentation fees can quickly eat into any savings. One of our Brokers will help you to manage your refinancing and get the right deal for you. Click here now to get some helpful advice about refinancing. The concept of consolidating many smaller debts and loans into one single loan has become increasingly popular with homeowners over the last few years. The basic advantage of consolidating debt is that a home loan or mortgage will nearly always have a lower interest rate than other debts such as credit and store cards. So, by consolidating your other debts and loans into your home loan, you’ll reduce the effective interest rate that you are paying on those debts. It is an attractive concept when you think that you are paying up to 18% p.a. interest on your credit cards but only 7.50% p.a. on your mortgage. However, you also need to be careful. Adding other debts to your home loan can add extra years to your mortgage and end up costing you more in the long run. This is because you are essentially swapping short-term debt for long-term debt. Our Brokers can assist you to consolidate your debts into the right home loan for your situation. A home loan that will help you to save money each month so you can meet all your obligations on time. To get more information about consolidating various debts, please click here. Are you having trouble getting a loan because you are self employed and have limited documentation to prove your income? We have many lenders on our panel who provide loans to self employed people without proof of income. This is perfect for small business owners who may not have been in business very long, or people who earn irregular income. These loans are called Low Doc Loans or Self Employed Loans. They typically have many of the features that you find in a standard home loan and are used for purchase or refinance of owner occupied or investment properties. These loans may be available for people who have had problems paying off other loans in the past, depending on the equity in the proposal. To get more information on self employed loans, please click here. Are you having trouble getting a loan because of a poor credit history? It doesn’t necessarily mean that you can’t get a home loan or mortgage. We have lenders on our panel who specialise in lending to people with arrears, defaults, or even judgements. Our Broker can work with you and negotiate with a home loan lender to arrange a loan that matches your circumstances. Please click here for more information about lenders who provide loans to people with poor credit history. Investing in property can be a safe and secure way of leveraging off existing equity in your home to acquire other property that will increase in value over time. However there is a lot to consider carefully and be aware of when investing in property. Besides the usual property issues to consider, there are also various strategies that impact on your bottom line such as income tax, negative gearing and even the type of investment loan. It is recommended that you seek professional advice from your Accountant or Financial Adviser, regarding some of these issues. A home investment loan can use equity in your existing property as a deposit on your investment. This can often mean that you don’t need to put down a cash deposit on your planned investment property purchase. Additionally, if an investment home loan is structured correctly, then the interest and other fees from that home loan can be tax deductible. With tenants paying rent and deductible interest, owning an investment property can have minimal impact on your cash flow. The benefits of investing in property may include:-
To obtain further information about investment properties and investment finance, please click here. Buying a Car? Don’t get caught out by high interest rates. Our Broker can help you to refinance your home loan so that you can benefit from the lower interest rates. Consider this, the interest rate on a typical car loan is around 10% - 12.00% depending on the lender. The interest rate you are paying on your home loan is probably around 7.70%. By refinancing your mortgage, you might be able to unlock extra borrowing power and use that to buy a car at significantly reduced interest rates. However, refinancing your home loan to buy a car is not for everyone. Our Broker can help you to identify the best refinancing solution. Need more information about Car Finance? Click here now!.
Reverse Mortgages / Equity Release Many retirees face a difficult challenge about how to fund some of their financial needs during retirement, with limited or no superannuation, and trying to get by on the aged pension. Homeowners in Australia have enjoyed significant growth in the value of their property with a return averaging 6 per cent a year (including inflation) for the past 30 years. (Source: Australian Bureau of Statistics) For many Australians, tapping into a portion of this wealth to support their retirement makes a lot of sense. A Reverse Mortgage may not necessarily be the right option for everyone, but it is increasingly becoming a valid option for many who want funds for some everyday expenses, like a new car, painting the house, a gift to family or a holiday. When choosing a Reverse Mortgage Lender, make sure that they a member of SEQUAL (Senior Australians Equity Release Association of Lenders). This organisation is a not for profit association which has a charter to ensure responsible and ethical lending practices by its lender members, in their dealings with the public. If you would like more information about a Reverse Mortgage Click here. We can provide information such as:-
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