19
Professional home loan packages
These loans are offered to provide an all-in-
one home loan package. They offer:
• interest rate and fee savings on your
home loan.
• credit card and transaction accounts.
Some lenders also waive the annual fees
for your credit cards.
• an annual fee ranging from $120 to $395
(usually applicable on these loans).
Construction loans
If you’re building a new home or planning
major renovations to your existing home,
a construction loan is generally the most
appropriate funding option. The difference
between a construction loan and other types
of loans is that a construction loan is drawn
down in stages and not paid as a lump sum.
The draw downs enable the builder of a
home to finance the various stages of the
construction process from the acquisition of
land to the various stages of building.
Offset accounts
An offset account is a savings account
attached to your loan account. Money in this
account is offset against the loan amount
thereby reducing interest payable. Significant
savings are made by reducing compound
interest.
Other advantages of an offset account include
being able to pay off your home loan faster
than the repayment schedule demands while
being able to redraw money if the need arises.
Our role as your mortgage
specialist is to provide you with
a comparison of various loan
options from a panel of lenders
and assist you with choosing the
right loan for your circumstances.
