Which Loan Suits Me

Standard Variable- The variable rate is the base rate of most lenders and may change at any time.

Basic- A very basic home loan at a lower interest rate without bells and whistles, still allowing the freedom of extra repayments and redraws etc.

Line of Credit- The equivalent of having a great big credit card with interest only repayments. Income is paid into the account meaning less interest. Downfall is this loan may never be paid off.

100% Offset- Income is paid into an account that offsets your mortgage thus saving on interest and meaning the loan is paid off quicker. The ideal loan for the budget conscious with funds left over at the end of the month.

Bridging Loan- A short term loan taken out to cover the difference between buying a new property and selling the existing property. In some cases this means moving once.

Fixed- This is for those people who prefer to know what their repayments will be for a set period of time. This can be from 1 year - 5 or some lenders 10 years. This reverts to standard variable at end of fixed period.

Split- Want the best of both worlds? Why not have a portion at fixed and the balance variable. You choose.

Lo Doc- Have no financials?


Non Conforming- A loan you use when you may not fit with the conventional lenders due to their guidelines. Bad credit, poor financials, short term employment, pensions, recent discharged bankrupts, late payments.