HOME LOANS

CBC Home Loans has access to all the major home loan lenders in Australia as well as specialty non-bank lenders to provide the best options for all our clients.

Most lenders will lend to 95% of the value/purchase price whilst there are a few who will lend to 100%. This is always subject to mortgage insurance approval and sometimes the premium is prohibitive. (Loans up to 80% of the value or purchase price of the property do not attract mortgage insurance. See A NOTE ON MORTGAGE INSURANCE for more information.)

We also have lenders who are prepared to lend without the need to provide evidence of income. This is very popular with people who have casual work or have just commenced part-time work or who work for themselves and do not have the appropriate income documentation.

For a quote or for more information email or phone 02 6162 1132.

INVESTMENT LOANS

Years ago the banks would charge up to 2% more for an investment loan. Their philosophy was if you are making money we want to share in it. They would also insist on a shorter than normal term, which would make the monthly payments higher.

These days there is no difference between a home loan or an investment loan other than the lending ratio.

All lenders will lend up to 90% of the value or purchase price of the investment property, whichever is the lesser. However, there are some lenders prepared to lend to 95% of the purchase price or valuation. Any loan over 80% of the security value requires mortgage insurance approval and a paid premium. See A NOTE ON MORTGAGE INSURANCE for more information.

Most investors have equity in the current home and can use that equity to provide additional security thus avoiding the cost of mortgage insurance.

For a quote or for more information email or phone 02 6162 1132

A NOTE ON MORTGAGE INSURANCE

Mortgage insurance is a policy taken out by the lender to protect them against any possible loss from a forced sale situation.

The premium is paid by the borrower at settlement and is based on the amount borrowed and the ratio of the loan to the security value (LVR).

This insurance provides no protection to the borrower. If the borrower requires income, sickness or accident protection or death cover, we can refer you to an appropriate and independent expert.

LAND LOANS

Most lenders will provide a loan to purchase vacant land at the usual home loan requirements. Some lenders, however, either do not do them at all or provide conditions - such as shorter terms or requirement to build within a specific time frame.

It is advisable to use an experienced mortgage originator to assist you.

For a quote or for more information email or phone 02 6162 1132

COMMERCIAL LOANS

Commercial loans are used to purchase commercial or industrial real estate. The market for this is slowly becoming more competitive and in consequence providing more products to select.

Generally we can provide a commercial / industrial loan up to 75% of the purchase price or valuation, whichever is the lesser, essentially on the same terms and conditions as a home loan.

Each application is judged on its merits and a conditional approval can be obtained without any up-front costs.

For a quote or for more information email or phone 02 6162 1132

OTHER LOANS

Lenders will call these loans many names - supplementary loan, car loan, holiday loan, consolidation loan, and so on. But in real terms they are all simply a “housing loan” and have the same terms and conditions as a home loan.