Liberty Financial

Liberty SMSF SuperCredit

Advertised Rate

4.60

% p.a

Variable

Comparison Rate*

5.04

% p.a

Maximum LVR
70%
Real Time Rating™

1.33

/ 5
Monthly Repayment

$1,685

based on $300,000 loan amount for 25 years at 4.60%

Advertised Rate

4.60

% p.a

Variable

Comparison Rate*

5.04

% p.a

Maximum LVR
70%
Real Time Rating™

1.33

/ 5
Monthly Repayment

$1,685

based on $300,000 loan amount for 25 years at 4.60%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,685

based on $300,000 loan amount for 25 years at 4.60%

Liberty Financial home loans are available through brokers who can help find the right loan and manage your application at no charge.

Biren Joshi

5.0
22 Reviews

Get expert advice from a home loans specialist.

Passion to help, experience with numbers, and professionalism are three words I live by. There’s nothing I enjoy more than displaying my passion for a home financing by sharing my experience with my clients as a professional mortgage broker. The experience is backed by an accounting background which helps to service my client with a real understanding of numbers and for investors in the most tax-effective way. I am a Mortgage broker and an accountant and I believe that everyone has the opportunity to invest in property and we want to help them navigate the array of products and services offered to ensure they get the best deal on their finance. I thrive to help home buyers and investors by leveraging my years of experience in finance and accounting. I also help clients to purchase property through SMSF helping them to get finance for SMSF and to grow their super portfolio If you are passionate about property investment or buying Owner Occupied property I am the right person to help you to organize your finances. If you require any assistance please call on 1300 300 759

VIC3169

CRN: 501703

Hishan Naufal

5.0
15 Reviews

Get expert advice from a home loans specialist.

Mint Financial Solutions are accredited advisors seeking a better financial future for you, your business, and your family. Our objective with these solutions is to help you make smart decisions with your money so you can achieve financial security. We will listen to your concerns and take the time to understand your needs, constraints and values, and work hard to inform you of your options, explain your choices and guide you through the decision-making process. Our Philosophy Mint Financial Solution is dedicated to building a lasting relationship with our clients by developing an understanding of the changing finance needs at different stages of their life. Our experience enables us to change with time, sourcing quality products by means that are convenient to our clients. We engage on behalf of our clients in all aspects concerning their financial security and future. Our Values Mint Financial Solutions is dedicated to giving back to the community through donating both financial aid and resources. We believe that together we can make a difference, and as a result, are committed to our charity foundation.

VIC3166

CRN: 449045

MD ALI Kawser

4.9
7 Reviews

Get expert advice from a home loans specialist.

I am Ali Kawser, a mortgage broker for 6 years and in the finance industry for 10 years. An investor myself, I have bought my first property in 2016 and owned investment property in 2018. I work from my home office, love to have a balance between work and family. I have helped many of my clients to achieve their dream to purchase their first property, also to purchase investment properties for a better retirement. Most of my meetings and appointments with clients are after hours, means you don't have to hurry to meet the schedule. Through a mortgage broker like myself, you'll have a choice of over 40 lenders including the big four for your convenience. Give us a call, you'll have a better experience!

VIC3338

CRN: 490619

Promoted

Quick home loan review

For Liberty SuperCredit SMSF (LVR 60%-70%)

These are the benefts of this home loan.

    These are the drawbacks of this home loan.

    • No redraw and no offset
    • Higher than average interest rate
    • Not available for first home buyers
    • Ongoing fee
    • Higher than average upfront fee
    • Discharge fee at end of loan
    • Maximum loan amount is limited to 70% of the property's value
    • No repayment holidays

    Home loan overview

    For Liberty SuperCredit SMSF (LVR 60%-70%)

    Details

    Maximum LVR

    70%

    Total Repayments

    Next LVR

    Interest rate type

    Variable

    Borrowing range

    Suitable for

    Investors, Self-Managed Super Funds

    Loan term range

    1 - 30 years

    Principal & interest

    Interest only

    Applicable states

    ACT, NSW, NT, QLD, SA, TAS, VIC, WA

    Make repayments

    Fortnightly, Monthly, Weekly

    Features

    Extra repayments

    Unlimited extra repayments

    Redraw facility

    Split interest facility

    Loan portable

    Repayment holiday available

    Allow guarantors

    Available for first home buyers

    Fees

    Total estimated upfront fees

    $1520

    Application fee

    $495

    Valuation fee

    $330

    Settlement fee

    $0

    Other upfront fee

    $695

    Ongoing fee

    $30 monthly

    Discharge fee

    $395

    Application method

    Online

    Phone

    In branch

    Other Benefits

    Interest-only loans available

    Other Restrictions

    There is however a requirement for you to maintain a minimum amount within your SMSF after the settlement of your investment.

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    FAQs

    Why does Westpac charge an early termination fee for home loans?

    The Westpac home loan early termination fee or break cost is applicable if you have a fixed rate home loan and repay part of or the whole outstanding amount before the fixed period ends. If you’re switching between products before the fixed period ends, you’ll pay a switching break cost and an administrative fee. 

    The Westpac home loan early termination fee may not apply if you repay an amount below the prepayment threshold. The prepayment threshold is the amount Westpac allows you to repay during the fixed period outside your regular repayments.

    Westpac charges this fee because when you take out a home loan, the bank borrows the funds with wholesale rates available to banks and lenders. Westpac will then work out your interest rate based on you making regular repayments for a fixed period. If you repay before this period ends, the lender may incur a loss if there is any change in the wholesale rate of interest.

    What is an ombudsman?

    An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.

    These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.

    Cash or mortgage – which is more suitable to buy an investment property?

    Deciding whether to buy an investment property with cash or a mortgage is a matter or personal choice and will often depend on your financial situation. Using cash may seem logical if you have the money in reserve and it can allow you to later use the equity in your home. However, there may be other factors to think about, such as whether there are other debts to pay down and whether it will tie up all of your spare cash. Again, it’s a personal choice and may be worth seeking personal advice.

    A mortgage is a popular option for people who don’t have enough cash in the bank to pay for an investment property. Sometimes when you take out a mortgage you can offset your loan interest against the rental income you may earn. The rental income can also help to pay down the loan.

    When do mortgage payments start after settlement?

    Generally speaking, your first mortgage payment falls due one month after the settlement date. However, this may vary based on your mortgage terms. You can check the exact date by contacting your lender.

    Usually your settlement agent will meet the seller’s representatives to exchange documents at an agreed place and time. The balance purchase price is paid to the seller. The lender will register a mortgage against your title and give you the funds to purchase the new home.

    Once the settlement process is complete, the lender allows you to draw down the loan. The loan amount is debited from your loan account. As soon as the settlement paperwork is sorted, you can collect the keys to your new home and work your way through the moving-in checklist.

    What are the features of home loans for expats from Westpac?

    If you’re an Australian citizen living and working abroad, you can borrow to buy a property in Australia. With a Westpac non-resident home loan, you can borrow up to 80 per cent of the property value to purchase a property whilst living overseas. The minimum loan amount for these loans is $25,000, with a maximum loan term of 30 years.

    The interest rates and other fees for Westpac non-resident home loans are the same as regular home loans offered to borrowers living in Australia. You’ll have to submit proof of income, six-month bank statements, an employment letter, and your last two payslips. You may also be required to submit a copy of your passport and visa that shows you’re allowed to live and work abroad.

    How can I qualify for a joint home loan if my partner has bad credit?

    As a couple, it's entirely possible that the credit scores of you and your partner could affect your financial future, especially if you apply for a joint home loan. When applying for a joint home loan, if one has bad credit, there may be steps that can help you to qualify even with bad credit, including:

    • Saving for a higher deposit, ideally 20 per cent or more. Keep in mind:  a borrowed amount of less than 80 per cent of the property value also saves the cost of Lender's Mortgage Insurance (LMI).
    • Consistent employment records, regular savings habits, and an economical lifestyle can help prove financial stability and responsibility. These can improve your chances of approval even if there are some negative marks on a credit report.
    • Delaying your decision to buy a property until your partner’s credit score improves. Alternatively, you may want to consider a solo application.

    While these tips may assist, if you find this overwhelming, consider consulting an expert advisor who can offer personal guidance based on your financial situation.

    What is a guarantor?

    A guarantor is someone who provides a legally binding promise that they will pay off a mortgage if the principal borrower fails to do so.

    Often, guarantors are parents in a solid financial position, while the principal borrower is a child in a weaker financial position who is struggling to enter the property market.

    Lenders usually regard borrowers as less risky when they have a guarantor – and therefore may charge lower interest rates or even approve mortgages they would have otherwise rejected.

    However, if the borrower falls behind on their repayments, the lender might chase the guarantor for payment. In some circumstances, the lender might even seize and sell the guarantor’s property to recoup their money.

    How can I get a home loan with no deposit?

    Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

    When does Commonwealth Bank charge an early exit fee?

    When you take out a fixed interest home loan with the Commonwealth Bank, you’re able to lock the interest for a particular period. If the rates change during this period, your repayments remain unchanged. If you break the loan during the fixed interest period, you’ll have to pay the Commonwealth Bank home loan early exit fee and an administrative fee.

    The Early Repayment Adjustment (ERA) and Administrative fees are applicable in the following instances:

    • If you switch your loan from fixed interest to variable rate
    • When you apply for a top-up home loan
    • If you repay over and above the annual threshold limit, which is $10,000 per year during the fixed interest period
    • When you prepay the entire outstanding loan balance before the end of the fixed interest duration.

    The fee calculation depends on the interest rates, the amount you’ve repaid and the loan size. You can contact the lender to understand more about what you may have to pay. 

    Can I get a home loan if I owe taxes?

    Owing money to the Australian Tax Office is not an ideal situation, but it doesn’t mean you cannot qualify for a home loan. Lenders will take into account your tax debt, your history of repaying the debt and your other financial circumstances, while reviewing your home loan application. 

    While some banks may not look favourably upon your debt to the ATO, some non-bank lenders may be willing to help. They will look into the reasons for your tax debt and also take into account the steps you have taken to repay it before deciding whether to offer you the loan or not. Having said that, there are no guarantees - it depends on your whole financial picture.

    Here are a few steps that you can take to improve your chances of getting approved for a home loan.

    • Demonstrate evidence of income.
    • Manage your debt by paying it off in installments.
    • Offer an explanation for your tax debt and a plan to pay it off.
    • Do what you can to stay out of court or attract debt collection agencies.

     

    What is bridging finance?

    A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

    Usually, these loans have higher interest rates and a shorter repayment duration.

    What happens if I don’t know my monthly repayments?

    Your repayments should appear on your bank statements or your internet banking. If you make weekly or fortnightly repayments, make sure you convert them to monthly calculations.

    How do you determine which home loan rates/products I’m shown?

    When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.

    We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.

     

    Why do I need to enter my current mortgage information?

    We use your current mortgage details to calculate the potential savings if you were to change lenders, and also to help us point you to loans that may meet your needs.

    For example – if you live in the house you own, we’ll make sure we show you the owner-occupier rates, which are typically cheaper than investor rates. Or if you have less than 20% equity in your property, then we won’t show you the deals that require a greater amount of equity.

    How does it work? What are the steps involved?

    To check your rate, start by entering your contact details and home loan information at ratecity.com.au. We’ll compare your current home loan to other options in our database, and let you know how much you could save by refinancing.  

    If we can’t beat your current rate, you can claim a $100 gift card by confirming your home loan details with us.*

    How do I find out my current interest rate and how much is owing on my loan?

    Your bank statements and/or your internet banking should show these details. If you are not sure, call your bank or estimate.

    Who can enter?

    Any Australian resident who is over 18 and currently has a personal home loan is eligible for our Home Loan Rate Promise. See terms and conditions.

    What is the Home Loan Rate Promise?

    The Home Loan Rate Promise is RateCity putting its money where its mouth is. We believe that too many Australians are paying too much for their home loans. We’re so confident we can help Aussies save money, if we can’t beat your current rate, we’ll give you a $100 gift card.*

    There are two reasons it pays to check your rate with the Home Loan Rate Promise:

    • You can find out how much you could save on your home loan by switching to a loan with a lower interest rate
    • If we can’t beat your current rate, you can claim a $100 gift card with our Home Loan Rate Promise*

    Are you REALLY giving away a million bucks?

    We are giving away, for one lucky entrant, the chance to win $1 million. Here’s how it will work:

    On 21 May 2020, one winner will be drawn from all the entries. This winner will then get a one in 200 shot at winning one million dollars. Even if they’re unlucky and don’t win the one million, they’ll still leave $5000 richer. 

    Do mortgage brokers need a consumer credit license?

    In Australia, mortgage brokers are defined by law as being credit service or assistance providers, meaning that they help borrowers connect with lenders. Mortgage brokers may not always need a consumer credit license however if they’re operating solo they will need an Australian Credit License (ACL). Further, they may also need to comply with requirements asking them to mention their license number in full.

    Some mortgage brokers can be “credit representatives”, or franchisees of a mortgage aggregator. In this case, if the aggregator has a license, the mortgage broker need not have one. The reasoning for this is that the franchise agreement usually requires mortgage brokers to comply with the laws applicable to the aggregator. If you’re speaking to a mortgage broker, you can ask them if they receive commissions from lenders, which is a good indicator that they need to be licensed. Consider requesting their license details if they don’t give you the details beforehand. 

    You should remember that such a license protects you if you’re given incorrect or misleading advice that results in a home loan application rejection or any financial loss. Brokers are regulated by the Australian Securities & Investment Commission (ASIC), as per the National Consumer Credit Protection (NCCP) Act.