For example, the loan includes access to unlimited free redraws with no minimum redraw amount and limitless additional repayments on variable rate home loans. Repayments can be made weekly, fortnightly or monthly.
loans.com.au also offers a Comparative Market Analysis (CMA) property report, which provides information about the property you’re considering including previous sale prices, median house prices and local community demographics.
Fixed rate loans offer a split loan facility which allows you to keep part of your loan on a variable interest rate, with up to five free splits.
Some loans can also receive a conveyancing voucher where conditions apply.
Be mindful that this loan has a relatively low maximum borrowing amount so people looking to borrow over half a million dollars will have to pick a different product.
This loan targets owner-occupiers and isn’t available to investors. People looking to refinance are also eligible for this loan.
loans.com.au also assigns every customer a personal lending manager who is the point of contact from application to settlement. This might make it ideal for first home buyers looking for guidance through their purchasing experience.
As the company is entirely online, it usually has a fairly quick application process, meaning buyers can generally gain approval and access to funds faster than other institutions.
This product’s key advantage is the extremely low interest rate, which makes repayments more accessible for some buyers. Loans.com.au runs a low overhead organisation and passes this on to buyers with extremely low interest rates, which means cheaper repayments.
The unlimited free redraws gives borrowers flexibility to meet unexpected costs with their home loan. A personal lending manager can also guide a first home buyer through the application process, making their transition to home ownership as smooth as possible.
However, the maximum loan amount is much lower than other lenders and, with high housing prices, this loan might not be able to cover the amount needed for some buyers to make a home purchase.
The Move Fast Special product is perfect for buyers looking to take advantage of low interest rates.