| REFINANCING
AND DEBT CONSOLIDATION
Talk to Real People Finance
about debt consolidation and refinancing to suit
your current situation. We can offer advice and
other options on the following:
-
Debt Consolidation
- Interest Rates
-
Loan and Product Features
-
Professional Packages
Debt
Consolidation
Why pay exorbitant interest
rates on personal loans or credit cards?
Consolidate your debts at favourable home loan
interest rates by refinancing your home loan.
It may also be the right time to consider other
significant family expenses, such as school fees,
investments or upgrading the car.
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Interest
Rates
Is your home loan interest
rate competitive?
The home loan market is
very competitive. Banks and non-banks are offering
all kinds of packages to lure your business.
A small saving on
your interest rate could save you thousands on
your loan!
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Loan
& Product Features
Does your home loan suit
your needs?
Consider some of these
options:
100% Offset Account
– It is common for people to have a 100%
offset account linked to their home loan to ensure
that all available funds are reducing the interest
on the loan.
”Low Doc”
and “No Doc” Loans –
Designed for self-employed clients with high equity
in an investment purchase & clear credit history,
who may not be able to provide current financial
statements.
Blending or packaging
– A clever option to take advantage of various
loan types. As an example, you may choose a 100%
offset account for $50,000 of your loan and place
the remainder of the loan in a basic interest
rate product.
Non-Conforming
Loans – Designed to cater for those
with a not-so-perfect credit rating, or who are
“outside the box” for most lenders.
These may suit casual, contract or seasonal workers;
people with no savings history etc.
Interest Only
– This is particularly useful for investment
loans, keeping the repayments to a minimum and
allowing for simplicity when doing your tax.
Internet and Phone
Banking – 24 hour banking is now
common and offers many advantages. Whether you
need it for BPay, 3rd party transfers, a redraw
or to deposit an additional repayment, the benefits
are far reaching.
Line of Credit
– This is a flexible loan that allows you
to use an approved limit for all purposes, at
home loan interest rates. Investors may find this
particularly useful. This option allows you to
use the equity in your home for property and investments,
such as buying shares etc.
Redraw
– Does your loan offer you a flexible redraw
facility that allows you to access additional
funds readily? Some products have limits on redraws
which may be restrictive.
Split / Switch
– Splitting and switching is similar to
the blending option above. The terms are more
commonly used where you place a percentage of
your loan on a fixed rate and another component
as variable.
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Professional
Packages
Are you eligible for a
professional rate?
Some lenders will
provide professional packages that include customer
loyalty discounts, interest rate and fee reductions,
gold credit cards and more.
Terms and conditions
do apply.
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