We have been helping Victorians with their home loan needs for over 20 years as we always place the needs of our clients first, and with access to a wide range of lenders, we will help you get the loan you want. With our years of experience, we are able to review your needs and requirements and assist to make the right decision, all you need to do is call.
The Home Loan Advisory Service provides personalised information about all the different types of loans available. We can explain the pros and cons of each loan and package to help you identify your options. Totally free of charge and without obligation. The lenders have many rules of their own, as well as government requirements that they need to follow, and in the end they will always seek to protect their own interests.
The Home Loan Advisory Service provides personalised information about all the different types of loans available. We can explain the pros and cons of each loan and package to help you identify your options. Totally free of charge and without obligation. The lenders have many rules of their own, as well as government requirements that they need to follow, and in the end they will always seek to protect their own interests.
Services
A bridging loan is a very short term loan. The higher penalty interest rates that apply to this sort of loan is not reflective of risk but the profit objective because the loan may only last a month or two and not 25 years (if it was a home loan). The lender only has a limited period from which to earn a profit, so the set up costs and interest rates are much higher.
Construction loans are designed to meet the needs of a borrower who is building a home or undertaking major renovations to an established property. The loan money is released progressively as the builder completes agreed stages under the building contract. Typically these stages are. The major benefit is that interest is charged only on the amount outstanding not the total loan approved.
A changeover loan is provided at home loan interest rates instead of the penalty rates that apply to bridging loans. In nearly all respects a changeover loan is the same as a normal home loan, with a typical 25/30 year term etc. While different lenders offer different versions essentially during the changeover period the repayments are structured so as not to cripple the borrower and are based upon the final loan not the short term debt.
Bridging & Changeover Loans allow you to purchase and settle on a new property before the sale and settlement of your original property is completed. For a short time you own two properties. The essential difference between a bridging loan and a changeover loan is that there is a home loan debt left over after the sale of the original property goes through.
Low Doc Loans or LoDoc simply means minimal supporting documentation proving income. These loans are designed for borrowers who have difficulty providing the normal documents to support their income. This may be because they are self employed, contract or seasonal workers or the income type is not regarded by the lender as sufficiently reliable eg commission only employees or child maintenance income etc.
Reviews (2)
Daniela Davis
Mar 11, 2021
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Couldn’t recommend Ron Stepnell and his team highly enough. We had no idea about the intricacies surrounding home loan approval and what lenders were really looking for. Ron’s expertise, experience and advocacy made it possible for us to get over the line. Also very LGBTIQ friendly (we’re a rainbow family).
Yan Zhang
Aug 19, 2020
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