We can help almost anyone who intends to purchase or refinance their owner occupied of investment property. The banks and non bank lenders have also designed various products to suit needs of various groups. Most of our clients can be classified into the following groups
1. First home buyers- It is said that buying your first home is the most difficult thing. This is particularly true as saving a 5 or 10% deposit for home purchase in Sydney where the average price of homes is $ 500000 can be a bit daunting. Many lenders offer high LVR loans from 95% up to 106 % of the value of property.
2. Limited Guarantees – We can structure loans for borrowers whose parents have sufficient equity in their property or whose income cannot be sufficient to service the debt by taking a guarantee. One major advantage is that borrowers save a large amount of mortgage insurance and once their loan balance is reduced to sufficient levels their parents can withdraw the guarantee as the loan can be a stand alone.
3. Property Upgrades- Selling your existing home and buying another one is especially stressful . We take the stress out for you by handling your financial transaction to minimize your costs. Products like bridging loans are particularly useful when you want to buy a new home before you sell your existing home.
4. Professional Investors –Whether you are a first time investor or an experienced one, it is important to have the right loan structure to maximize the yield and tax benefits. There are various loan structure to suit individual needs . For example by having interest only payments on their investment property and making their home loan principal and interest with extra repayments directed towards their home loan can maximize tax advantage and accelerate reducing your home loan balance.
5. Self employed – It is always difficult to run a small business and keep your financial statements up to date. Here low doc loans or no doc loans can help as you don’t need the additional documentation associated with full doc loans. However we can also help self employed individuals get full doc loans by maximizing their income due to certain allowable add-backs by lenders.
6. Credit Impaired – Most conventional lenders reject borrowers who have unpaid defaults on their credit reports. We have access to specialists
7. Overseas residents – Certain lenders would consider can lend for Australian permanent residents working overseas and even overseas residents for property purchases in Australia . Check with us who offers the best deals for such cases.