Stubbs Finance Gold Coast - Finance Brokers, Home Loan and Commercial Loans
Finance Brokers Australia Australian Motgage Brokers Gold Coast Finace Broker - Stubbs Finance
Get a Quote
 
Contact Stubbs Finance Gold Coast
 
Other Financial Services

Variable rate loans have an interest rate that fluctuates throughout the loan term. The rate is set by the bank, however is influenced by economic conditions, government policy and the ‘official’ interest rate that is set by the Reserve Bank of Australia.

Fixed rate loans have an interest rate that is fixed for a certain period during the term of the loan. These loans offer borrowers the certainty of knowing what your repayments are and safeguards you against increasing interest rates.

Honeymoon rate loans have a special discounted variable or fixed rate available for the first or second year of the loan. It offers you a variable rate that has a set discount below the standard variable rate for the first year. Early repayment costs usually apply if the loan is repaid or refinanced within the first three years.

Borrowers are able with some lenders to split the amount you borrow into a number of different loans. This gives you flexibility as you can combine a variable and fixed rate loan, or two variables or two fixed loans, it’s up to you! This means you get the benefits of both loans.

A Reverse Mortgage Loan is a special type of loan that allows you to access the equity you’ve built up in your home.

If you’re over 60, own your home, a Home Equity Type Loan is a possible solution to managing your finances. It allows you the freedom and independence to access funds while continuing to live in your own home.

  • Use the money for what ever personal or investment purpose you wish.
  • Title remains in the home owner's name.
  • Money can be received in a lump sum, monthly payments or both.
  • No repayments required until title is transferred.
  • Protection available if you wish to leave an inheritance.
  • Independent legal advice required.
  • No negative equity pledge means if the sale value of your property does not cover the outstanding loan balance you or your estate will not be asked to make up the difference. *
  • Choice of variable and fixed interest rate options.

With a Low Doc loan you are not required to provide any documentation to substantiate your income (Tax Returns etc). Instead, you may be required to "self-declare" your income by completing an Income Declaration Form

No Doc Loans allow applicants to purchase or refinance residential property (either owner occupied or investment) without declaring or providing ANY income details or their Assets and Liabilities. They are essentially an "Asset Lend" over the property being offered as Security. You are not required to declare ANY income (or your assets and liabilities) ... as close as you can get to a ZERO paperwork home loan under current regulations.

  1. trading figures that don’t genuinely reflect your precise income situation (due to addbacks, once-off expenses or legal tax minimisation strategies
  2. if you have Tax Returns that aren’t up to date
  3. applicants who have complex business structures may simply find it more convenient
  4. convenience is the key, particularly if paperwork is not your favourite thing

A bridging loan (or relocation loan) is a short-term loan that covers the gap period between purchasing your new property and selling your old one. These loans are offered at the standard variable rate and usually have a term of six months if you are selling your property.
Each lender assesses bridging loans differently, so it pays to have an expert on your side. All lenders will require you to have significant equity in your property for a bridging loan.

With a line of credit, or an All in One account, you pay all your income into your loan account. Essentially it all goes to pay off your loan, but you also use your account as your cheque, credit and savings accounts combined – almost like a simple redraw facility. Keeping money in the account can reduce your loan amount and your interest payments.
You have a pre-approved loan amount that you can access bit by bit, or all at once.  This is a very flexible way to borrow, but interest rates tend to be higher than standard variable rates, and there are usually fees.

Loans with a redraw facility allow you to put extra money into your loan. You can take the money back out again when you need it.
Over time these payments can significantly reduce your interest payments and the life of your loan. If you think that you might be able to pay a little bit extra into your mortgage, either regularly or intermittently, then this type of loan might work well for you.

Some lenders charge a fee to activate this feature, and/or a fee each time you redraw, so you need to take these costs into consideration.

With an Offset account your income is paid into an account, which is linked to your loan. You can use the account for all your EFTPOS, cheque, Internet banking and credit transactions. The balance in the account is offset against your loan, so the more money you keep in your account, the faster your loan is reduced.

These loans are usually charged at the standard variable rate or higher, and may have other fees.
 
back to top