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Recent competition combined with exceptional technology has greatly assisted consumers by generating more information and transparency of choices in the market. These tools, when used correctly, can reduce your loan term and potentially save you thousands of dollars in interest charges with guidance to the best solutions on the Home Loan markets.
Newly developed loan packages can today offer consumers a dynamic advantage by showing them numerous ways of handling their income, savings and loan accounts with even more empowered returns.
We can Support you in managing cash flow greater by structuring our savings and loan accounts in a number of different ways.
Types of Loans
Standard Variable Rate Home Loans - This is the lenders standard home loan and has a standard variable interest rate that moves up or down with interest rates. This Lenders Standard Variable Rate is guided by the overall state of the economy & the Reserve Banks’ Cost of Funds.
Introductory/Honeymoon Rate Home Loans - These loans offer an initially discounted, fixed or capped period generally for 12 months which then reverts to the Standard Variable Rate Home Loan.
Fixed Loans - Borrowers can fix their interest rate for a specified period of time, most commonly 3 to 5 year periods. Although this protects against interest rate increases, it does not allow advantage in falling interest rates. Early repayment or payments in excess of the minimum amount allowed will generally incur interest adjustments and/or penalties.
Line of Credit (LOC) & Salary Mortgages - These loans are where you pay your income directly into the home loan. You then pay all your monthly expenditure via credit card & utilize a cheque book or ATM card to access your cash. These facilities will significantly reduce your monthly interest commitments allowing your home loan to be repaid within 4-8 years as opposed to the standard 25 year loan term. Naturally, disciplined spending & monitoring ensures best results. The difference between the two facilities is that the limit on the Salary Mortgage reduces over time where the limit on the Line of Credit remains constant.
Mortgage Offset Accounts - traditional Home Loan with interest offsetting from a linked transaction account generally at the same interest rate as the home loan. This facility has the same overall benefits as a Salary Mortgage Facility. The transaction account is separate to the Home Loan making it easier to budget.
As the interest is offset against the home loan the interest is not taxed. This is a facility that maximises your cash flow, reduces the loan term and ensures funds are available via a redraw facility when required. All standard services can be linked to the offset account. For example: Credit card access, direct salary credits, phone banking.
Basic Variable Home Loan - basic no frills Home Loan with a lower than Standard Variable Rate that generally has limited features & no ongoing fees.
Split Loans or Combination Loans - These facilities allow for a combination of facilities. For example, a borrower may wish to have a portion of his/her loan on variable & another portion on fixed.
How do I choose which loan is best for me?
Tangible Assets Mortgage Services consultant will assist you make the best possible choice after the analysis and evaluation of the alternatives available to your situation and desired outcomes. Some questions they may ask you include:
1. Are your current circumstances likely to change in the near future?
2. Do you have a preference between fixed & variable?
3. Are you a financially disciplined person?
4. How regularly do you get paid?
5. Is a redraw facility important to you?
6. How often would you like to make your repayments?
7. What are your future goals & dreams?
First Home Buyers
Tangible Assets Mortgage Services believes “It all starts with a Home Loan”. So, the sooner you purchase your first property, be it for you to occupy or as an investment, the sooner you will commence your fantastic wealth creation journey.
You must first satisfy all the requirements below:
- Ensure this is the first time you or your spouse/ de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory of Australia.
- Ensure that you and your spouse/de facto have not owned before 1 July 2000 a residential property, jointly, separately or with some other person, in any State or Territory of Australia.
- Ensure that you and your spouse/de facto have not owned on/after 1 July 2000 a residential property and occupied that property (other than the property to which your application relates) jointly, separately or with some other person in any State or Territory of Australia.
- Ensure that each applicant is a natural person and not a company or trust.
- Ensure that each applicant for the grant must be at least 16 years of age. The Chief Commissioner may allow an exemption from this requirement if satisfied the home will be occupied as the applicant's principal place of residence and the application does not form part of a scheme to circumvent eligibility or entitlement requirements.
- Ensure that at least one applicant is a permanent resident or Australian citizen.
- Ensure that at least one applicant will occupy the home as their principal place of residence within 12 months of settlement or construction.
- Ensure that you have entered a contract for the purchase of a home on/after 1 July 2000 or signed a contract to build a home on/after 1 July 2000. In the case of an owner-builder, you commenced laying foundations on/after 1 July 2000.
How do I apply?
Your Tangible Assets Mortgage Services consultant will arrange all the necessary paperwork with your loan application. For further information please use the link below to email our dedicated team.
Email loans@tangibleassets.com.au
Selling & Buying
Tangible Assets Mortgage Services can remove your financial stress by arranging a Relocation Loan (commonly known as bridging finance) at the standard variable interest rate. These loans remove the stress of having to settle both your purchase & your sale on the same business day. We will even do this if you are going to build yourself a new home.
In the event that you have already sold your existing home, all you need to do is show us the exchanged contract or sale proceeds & we will arrange your new loan in no time at all.
Refinancing
The loan you obtained when purchasing your property may have been the best one at the time yet time changes and market awareness shifts, so this may not always be the case. Lenders change their competitiveness, your circumstances may change or the facility that was suitable once may not be suitable now.
Tangible Assets Mortgage Services is extremely confident that we can provide you with the best options and facilities to enhance your current lifestyle!
Building a New Home
This is a very exciting and hectic time, and is an area we can help you with due to our experience & superior knowledge in Building Finance because the last thing you need is a problem with finance. Delays with releasing progress payments & problems liaising with the builders are one area of Home Purchasing we can suppress forever!
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