Home Loans -
Lines of Credit
The Australian
market has changed a lot in the last twenty years. Deregulation
and the growth of competition have meant many different lenders
are now available to modern consumers in addition to the traditional
banks and building societies. Each of these has a range of
loans so there are literally thousands of products on the
market today.
These options will fall into basic categories and these can
be split or combined in different ways to suit the individual
borrower’s needs. Loans also have optional features that can
be utilised. Features like ‘Interest Only’ payments, Re-draw
options, and linked credit card or cheque book facilities.
We can define the ‘basic’ loan options for most borrowers
in this way.
Lines of Credit
A Line of Credit loan is a fully flexible
loan that normally allows clients to make maximum payments
onto a loan and make easy flexible withdrawals from the same
loan. It is an ideal structure for rapid mortgage reduction.
This loan gives a client a general limit to their loan and
allows them to deposit or withdraw funds as they choose as
long as they operate below their limit. It allows much greater
flexibility for the borrower but needs to be structured carefully
to ensure clients get the maximum benefit from this type of
loan.
Contact us today for a free consultation.
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LOOKING FOR A BETTER
DEAL ?
Whether you are buying your first home or refinancing
Prosperity Mutual can help you save money on your home loan
and guide you from initial consultation stage all the way
through to settlement. Our company prides itself on providing
its customers with a personal service second to none. Services
operate in Sydney, Canberra and Melbourne.
CONTACT US
TODAY ON 1300 854 667
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