Other Loan Options

Here are several more options that may help you.

Low Doc Loans
If you are self employed and getting frustrated that you can’t get finance from the banks, then a low doc loan may be the answer.

A low doc is best suited to the self employed who can’t always show regular income streams but can afford to buy their own home.  Low doc loans have been created so that you can still apply for a home loan without showing as much documentation as those with regular income streams.

Mortgage Solutions Australia offers its clients this service. However, with every loan there are positives and negatives and you should speak with your Mortgage Specialist at Mortgage Solutions Australia to find out if this is best for you.

Lines of Credit
Mortgage Solutions Australia offers a broad range of loans suitable for any circumstance.  One loan type, a line of credit, allows you to access additional funds secured by your home’s mortgage.  It means that you can withdraw funds for a holiday, home renovations or new car up to a fixed limit.

There are a number of advantages and disadvantages to these types of loans and you need to be aware of all circumstances before deciding if it is the right type of loan for you.

Speak with your Mortgage Specialist today to see if a line of credit is right for you.

Credit Impaired
If you are having a hard time getting a loan and have been declined by lenders in the past, the team at Mortgage Solutions may still be able to help.  There are a number of reasons why lenders reject loan applications.

But nowadays there are just as many products available such as low doc loans that may be suitable for your circumstances. Let Mortgage Solutions Australia understand your situation and find the best option for you.

Professional Packages
Mortgage Solutions Australia offers a wide range of loans for wherever you are in life.  We offer professional packages – offer a wide range of products including low interest rate credit cards and off-set mortgage accounts.   To find what’s right for you, talk to the Specialists at Mortgage Solutions today.

Deposit Bonds
A deposit bond is a substitute for all or part of the typical 10% cash deposit required when purchasing a property and is a guarantee from the bank.  It is particularly useful at auctions.  If you are the winning bid at an auction, you generally need to put 10% down on the property to secure the house.  This is a bond over your existing home that guarantees you can finance the loan.

There are a number of advantages and disadvantages to a deposit bond and they may be a better option than a personal loan, or drawing on your credit card.  But as with all financial matters, you should discuss with your Mortgage Specialist what loan works best for your circumstances.

Home to Home Finance
You've finally found your dream home.  One small problem: you haven’t sold your current home yet. What do you do?

While you are waiting for your current house to sell, you may need to get home to home or bridging finance.  Home to home finance means you can still buy your dream home without having to sell your current home immediately.  And with some lenders offering up to 12 months interest only repayments during the bridging finance period, there is less pressure on you to sell your home quickly.

For more information on how home to home finance may help you, contact the Specialists at Mortgage Solutions Australia.