The PRO's & Con's of loan products

There's a huge choice of home & investment loans available, but to find the right one that suits you best you'll need to do a bit of research and homework.

That's exactly why we have done most of the research and homework for you! Taking the stress out and giving you peace of mind.

 

See below products at a glance, for an idea of what is available to you.

 

 

 


BASIC HOME LOANS:

PRO, Interest rates are often half to one per cent below the standard variable rate.

CON, Limited features, less flexibility and possible penalty fees for early loan repayments.

LOW DOC HOME LOANS:

PRO, Can help you enter the property market if you are self-employed, contract or seasonal worker without regular income or proof of income

CON, Typically have higher interest rates; you may also have to pay LMI

STANDARD VARIABLE, RATE HOME LOAN:

PRO, Make regular repayments based on the current interest rate; effective if rates do not rise.

CON, Should interest rates increase your regular mortgage repayments will rise as well!

FIXED RATE HOME LOANS:

PRO, Fix your interest rate for a specific period, giving you certainty to regular repayment amounts.

CON, Should interest rates fall you'll still need to repay your mortgage at the agreed fixed rate.

SPILT RATE HOME LOANS:

PRO, Fix a portion of your interest rate to give certainty to monthly repayments while also benefit from a variable- rate portion should rates drop.

CON, If interest rates do drop you'll be left paying a higher rate for your fixed-rate portion.

INTEREST, ONLY HOME LOAN:

PRO, Pay only the interest component on your mortgage. CON- Repayments do not reduce the principal component of your mortgage

 

 

Want to know more? See our information on:

Investment Loans
Home and Residential Loans
Business Loans
Car & Equipment Loans

 

If you have any queries regarding any Finance, Mortgage or Insurance or any other matter,
please don't hesitate to contact our professional team at FLR Solutions on:

0415 280 555 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it

or Simply fill out our enquiry form and we will promptly contact you

 

 

 

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