HOME LOANS

A mortgage isn't something you want to get wrong

  • Does your current home loan match your need?
  • Are you using the features that are available on your current home loan?
  • Are you looking to add value to your home?
  • Would you like to invest and set up a retirement strategy?
  • Are you looking for more security with a fixed rate and a variable split?
  • Starting a Family?

When choosing a home loan you may want to consider some of these features:

  • Ability to make additional repayments to your loan, without extra charges
  • Ability to make repayments via direct debit, ATMs, Internet and phone banking services
  • 100% mortgage offset facility, allowing you to offset funds in an account against your home loan
  • Ability to redraw additional payments you have made to your loan (for eligible customers)
  • Ability to restructure the loan further down the track


Equity Release

Many Australians own homes that are now worth far more than the loan they have against it. With a Home Equity Loan, you can unlock that "equity".

What is Home Equity?

You'll hear a lot about equity in relation to Home Loans. Equity is the difference between what your home is worth today and what you still owe on your Mortgage.

Utilising your Home Equity

If your home is worth $400,000 and you only owe $100,000 on your Mortgage, you have $300,000 in home equity. Previously, the only way you could utilise that equity was by selling your house. Now there is another way.

Home Equity Loan - Unlocking Home Equity

With a Home Equity loan, the Lender lets you borrow against the equity you have built up in your loan. Let's say you need money for your daughter's wedding. You don't have any ready cash but you do have equity in your home. A Home Equity Loan is one of a range of possible solutions.

Home Equity Loan - a better interest rate

If you need money, you could use a credit card or take out a personal loan. But you'll probably get a better interest rate with a Home Equity Loan because the loan security - your house - is so good.

Monthly repayments

One thing you need to remember with a Home Equity Loan is that you still need to make monthly repayments.



Low Doc Loans

A Mortgage created for the self-employed.

If you're self-employed, you may have found it difficult to get a traditional Mortgage, don't despair. The Low Doc Home Loan has been designed specifically for the self-employed.

The dilemma of the self-employed

If you're self-employed, the goal of your accountant is to minimise your taxable income. Unfortunately, while this means you pay less tax, it creates problems when you try to borrow. While you might know that you can service a loan, your books don't back you up, or your paperwork may not be up-to-date. As a consequence, the self-employed often find it frustrating to obtain a Home Loan.

Consider the Low Doc Home Loan

While the self-employed often can't satisfy traditional lending criteria, they can be perfectly capable of servicing a loan. As a consequence, the Low Doc was created. These loans don't require the same level of "documentation" as normal loans. If you have difficulty documenting your financial position with regular pay slips, tax returns or business financials etc, a Low Doc Mortgage could be a good solution.

Prime Money Matters will recommend the right options for you.