HOME LOANS AND MORTGAGES
Whether you're looking to purchase your first home, or an experienced property investor adding a new asset to your property portfolio, we've got you covered. Our finance and mortgage broker network is incredibly experienced, highly qualified and experts at dealing with all sorts of circumstances. There is nothing that our team of qualified home loan professionals hasn’t seen, from bad credit scores, complicated employment histories, self employed applicants and more! We have to skills and services you need to ensure your home loan and mortgage application process is as smooth as possible.
Home Loans and Mortgages for Owner Occupiers
For most Australians getting out of the "rental rat race" is an extremely high priority. We understand that here at Car Loans Adelaide, and our mortgage specialists have gained the experience and qualifications necessary to work with clients no matter your circumstances. Our team of experts fully understand our diverse lending panel, and the nuances and products specifically available for owner occupiers. We perform high-quality work to ensure that you're getting the best deal possible, with the very best loan conditions to suit your circumstances. This could include things options like offset accounts, linked credit cards and more!
Fixed or Variable Rate?
Our goal is to provide our valued clients with customizable home loan mortgage services that will continue enhancing your life from the moment we conclude services and for many years to come. As such, our trained home loan mortgage lenders scour the current market to find you the best interest rates, comparing all financing options to find the right one for you.
There is often a great debate around what the market will do, and whether it's best to take a fixed or variable rate on your loan. We will always do our best to present you with all of the options, and help you make a decision that fits your circumstances the best. You may wish to have the security of a fixed rate, so regardless of what happens globally or nationally, your payments are locked in for a period of between 1-5 years.
Alternatively you may believe strongly that home loan rates will continue to decline, in which case you may elect to ride the wave down with a variable loan to further reduce your savings. Other factors come into play like do you intend to make minimum payments or pay extra? Fixed rate loans often have a limit or cap, to the amount of extra payments you can make within your loan term. Speak to our team and we can walk you through all of in's and out's regarding this choice.
Home Loan Deposit
As the years pass by, the amount of money needed for a house deposit continues to grow exponentially, and as daunting as this can seem initially, there is support available for new homeowners looking to purchase a property. Adelaide locals and residents of South Australia in general have access to government assistance surrounding first home owner schemes, so make sure to ask us about this when having your initial discussions. Certain financial lenders might require you to have 20% deposit, or be forced to pay lenders mortgage insurance (LMI). Others might be happy to accept equity you hold in another property or if you wish to cross-collateralise - each lender generally has their own thoughts on this so definitely let us ask the questions for you.
Negative or Positively Geared
Once you've managed to accumulate your first property generally in the form of an owner-occupied home loan on your main residence, you might start to think about buying an investment property. This can be a complicated situation to navigate due to your own personal circumstances. We always advise to speak with your qualified accountant to determine what's best for your current situation. Basically negative gearing relates to when the costs (interest and running costs) add up to more than your income generated from the investment property. The general aim of this strategy can be to get into the market early, claim your losses against your taxable income to offset it, while your investment property appreciates in value. If you have quite a high taxable income this can work well as your capital gains and taxation benefits can be greater than the holding costs.
As you can see this is a complicated topic, with many variables to consider. Our network of specialist mortgage brokers are always happy to have a confidential discussion to assist you consider your current circumstances. Reach out to us today at Car Loans Adelaide.
