A Standard Variable Rate loan is one where the interest rate fluctuates during the term of the loan. This is the most common type of loan in Australia and tends to be the most flexible with extras such as offset and redraw facilities often available.

Lenders now offer basic variable loans with a discounted interest rate but with fewer features than a standard variable loan. The benefit of this loan is that because the interest rate is low, your repayments are also low. Accordingly, keep in mind that these types of loans may not offer the features and flexibility to accommodate your situation. For this reason you need to discuss your requirements with an Action Loans Mortgage Consultant.

These loans traditionally offer an introductory or “honeymoon” period in which the interest rate is reduced dramatically for a set period of time. At the end of this period the interest rate will revert back to the standard variable rate. With these loans it is advisable that you discuss the finer details with an Action Loans Mortgage Consultant, as there are certain consequences you need to be aware of.

A Fixed Rate Loan is one where the interest is “locked in” for a specified period within the term of the loan or for the whole term of the loan. These loans are ideal for borrowers who want the security of knowing their loan repayments will not increase during the term they have chosen.

A Split Rate Home Loan allows you to split the loan amount into two portions – one having a variable interest rate, the other having a fixed interest rate and the ratio of the split is up to the client. By splitting the loan you are reducing the exposure of interest rate increases, which will only affect the variable rate portion.

An Offset Account is a savings account that is linked to your mortgage loan. No interest is paid on the savings account but instead the balance of this account is deducted from your mortgage loan before the interest is calculated. Therefore less interest is charged to your mortgage account. This is a great way to reduce your interest, however there are certain drawbacks you need to be aware of. We recommend you contact Action Loans for further details.

Action Loans are experts when it comes to property investment. We have all the right tools and solutions to meet your individual requirements. If you are purchasing for the first time or have a current property, we can show you how to start an investment portfolio using existing equity. It is not unusual for lenders to have slightly different lending guide lines when considering an investment loan. The main differences may be serviceability and LVR policies.

A Line of Credit Loan allows borrowers to an ongoing source of low cost finance that is secured against the accumulated equity in their home. This facility is also suitable for investors and business owners. In addition, with careful structuring and the implementation of a credit card and its interest free period, this facility can be a very effective method of paying off your home loan in record time and potentially saving thousands of dollars. As the structure of this loan is very specialised, it is recommended that you discuss your requirements with an Action Loans Mortgage Consultant.

If you are looking to purchase a property but don’t have a deposit, Action Loans can help. We can assist eligible applicants obtain 100% finance. In some cases we can even provide up to 106% finance. This means that all your government stamp duties, legal fees and bank fees are totally covered. If you have been employed full time in the same industry for a minimum of 2 years, have a strong income and a clean credit history, then you may be eligible to apply.

From our large panel of lenders, Action Loans has access to the best construction loans on the market. A construction loan is available to clients wishing to build a new home through a registered builder. When applying for a construction loan, lenders often require significant documentation that can seem overwhelming. Your Action Loans consultant can assist you through this process and ensure a smooth and stress free result. We can even organize the first home buyers grant.

At Action Loans we specialise in bad credit applications. If you have a bad credit report, unpaid defaults, arrears in your payments or even one day discharged from bankruptcy, we may be able to help you. At Action Loans we have a range of non-conforming lenders that are committed to working with to find a solution that suits your special needs.

Low doc loans are predominantly for the self employed who may find it difficult to substantiate their income for traditional loan products. They are called “low docs” because the applicant is only required to supply the lender with a declaration that they can afford the repayments. The interest rates are normally the same as standard rates, however in some cases they may be marginally higher.

A Deposit Bond is a guarantee that substitutes the cash deposit between signing contracts and settlements. A bond can be issued for all or part of the initial deposit required on the property and can be up to 10% of the property purchase price. This is great for buyers who do not wish to commit a full cash deposit or simply don't have the funds upfront. There are conditions that you need to be aware of, so please talk to an Action Loans Mortgage Consultant for further details.