Housing Loans & Residential Investment Property Loans
Some of the different types of Loans available through SD Loans & Leasing are:
- Simple income declaration form signed usually by your accountant
- No tax returns
- No financials statements
- Can have features such as redraw, line of credit, variable or fixed rates, principal and interest or interest only
- Generally a higher interest rate
Recent government changes has meant clients now need to provide up to 12 months bas statements and sometimes 12 months of bank statements on the business cheque account.
- Lump-sum payments can be made without incurring a penalty.
- If interest rates fall, your repayments will fall.
- Often offer extra features.
- If interest rates rise your repayments will rise.
- Relatively low interest rate.
- Lower repayments.
- Many of these loans do not have the same features or flexibility as other variable loans.
- Usually the lowest rates on the market.
- Some lenders provide offset accounts on these loans.
- Opportunity to reduce the principal quickly during the ‘honeymoon’ period.
- Payments will increase after initial introductory/’honeymoon’ period.
- Guaranteed rate, if interest rates rise your repayments won’t.
- Reduced flexibility.
- Extra repayments may incur a fee or be limited.
- You can use the money when you need it and pay it back when you can.
- Provides flexibility to manage your own invests and cash flow
- Unless care is shown it is possible to reduce the equity you have built in your home.
- Competitive variable interest rates.
- Facility to draw money when necessary whilst building.
- Interest only payments during the building period.
- Additional payments can be made.
- Requires a fixed price building contract leaving little room for change whilst building.
- Some lenders charge a fee for every time you draw money whilst building.
- Given it is a variable loan; loan repayments will increase if interest rates go up.
- Can save you substantial amount of interest if used correctly.
- Operates like a normal transaction account and has a chequebook, ATM card, etc. attached.
- May have higher monthly fees attached to the account.
- May require a minimum balance in the account
For more information about the loan process click here
Contact Us Today
Like to discuss your housing and property loan requirements?
Call our office on 07 4033 0254 or email us.