Financing a property or refinancing a loan is a major financial commitment so choosing the right loan contract is a crucial decision which will impact every aspect of your financial position.
A Home Loan Package should provide a low start-up cost base offering all the extra features. A flexible Home Loan Package should offers customers the option of combining fixed and variable rate loans at a competitive rate of interest.
An efficient Home Loan Package should be simple, have a low on-going cost base with the facility of combining the variable rate loan account with other fixed rate loans and can also include a 100% mortgage offset against a variable rate account.
What Key Features should a Home Loan package have?
Competitive interest rates both variable and fixed.
Fee-free unlimited access (on variable rate loans) to Internet and phone banking (and BPAY®).
Salary crediting directly to loan account or deposit offset account
Should be available in personal, company or trust names
Choice of variable and fixed rates (1,2,3 and 5 years)
What should a Home Loan Package offer?
It should deliver up-front Price efficiency [price is a one-time event]
It should deliver on-going Cost efficiency [cost is a reoccurring sequence]
A Home Loan Package should be structured on the premise of value. Financing your Home Loan is after all a very important long term commitment and you should conduct thorough analysis to compare the merits of different Home Loan Banking products available in the market place.
A Home Loan Package should deliver real results and provide real savings! This summary below provides helpful information in terms of identifying the fees that may apply for a home loan product.
The questionnaire below can be very handy when undertaking a home loan product comparison.