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Top Tips for Finding the Right Home Loan

You don't have to navigate through the lending world on your own. It's important to do your homework and find out the best products and services to fit your circumstance.

First Home Buyers:

Look for a loan with a low interest rate over a long term, unrestricted additional repayments and a redraw facility. Being able to make additional repayments, combined with the flexibility of a redraw facility, allows you to build up funds in your mortgage account which may be used in the future for larger expenses, unexpected emergencies, or a rise in interest rates.

Click here to view the most popular loans for First Home Buyers.

Renovating or Building:

Best mortgages for renovators include a low introductory interest rate or ‘honeymoon rate’, so if you want to renovate as soon as you move in, the low interest rate repayments on the home loan can help you cover the cost of doing so. 

Alternatively, you could use this ‘honeymoon’ period to make additional repayments to build up your mortgage account to help cover any future renovation costs or a rise in interest rates.

Click here to view the most popular loans for Renovating or Building. Or, look at a construction loan where you can borrow up to 97% of the property value.

Experienced Home Buyers:

You may want to consider a split home loan option, so that you can fix the interest rate on part of the mortgage and pay the variable interest rate on the remainder of the loan amount.

This allows you to protect a portion of your home loan against future interest rate rises while still allowing you to make additional repayments to help reduce your mortgage account. It's wise to learn more about how Fixed Rate home loans work. Usually this is one of the best home loans for buyers with outstanding mortgages.

Click here to view the most popular loans for experienced home buyers.

Property Investors:  

Focus on rental income, tax savings and set monthly mortgage repayments. Therefore one of the best mortgages feature a low interest rate over a fixed interest period, allowing for set repayments which won’t fluctuate with interest rate changes.

Click here to view the most popular loans for investing.

Still have questions? Enquire online or call us on 136 126 and speak with a loan specialist today.