Leichhardt 2040

Mortgage Broker Leichhardt 2040

Glynn Finance is a finance broking business specialising in property finance solutions that suit the individual customer's requirements. We source the best product for your specific needs. We have direct accreditation with over 25 Australian Banking Institutions. This enables us to match the best product to you.

Our Brokers and Credit Team have over 50 years' experience. Not only do we deal with the top tier banks, we have a full suite of lenders who also specialise in vehicle finance, SMSF Lending, Residential and Commercial Property investors.

For a more precise estimate of your borrowing capacity contact our mortgage specialist today.

 

Home loan Interest Rates Leichhardt 2040

When you take out a Home Loan, you are offered a mortgage from the nominated lending institution.

In Australia we have over 30 lending institutions that offer these products.

Your mortgage broker can assist with choosing the most appropriate Home Loan for your specific requirements.

Each bank or financial institution has a specific product profile and range to suit all different types of customers.

Some may be Self-employed, have credit defaults, irregular income, on pension, payg, looking to utilise SUPPERANNUATION (smsf).

A home loan can be a structured in many ways. The main difference would be the interest type.

There are variable and fixed rate options to borrowers, Variable rates are adjusted with the Reserve Bank of Australia (RBA) cash rate and measured against this, with a margin for the institution. E.G RBA rate is 1.5%p.a plus 2%p.a margin for institution equals a Variable Home Loan Rate of 3.5%p.a.

These rates will adjust from time to time over the period of the loan up to 30 years.

A Fixed Rate loan is usually for 1-5 years however 7 to 10-year options are available at some bank institutions (consult your broker).

A Fixed Rate is locked for this period according to the yield curve and the estimated rates for this period 48 hours before the settlement of the loan.

At the end of this fixed period you have the option to stay on a new fixed rate or switch back the variable rate at the time.

The interest repayments for this home loan is generally calculated on the outstanding loan amount at the end of each business day, multiplied by the interest rate that applies to your loan then divided by 365 days (or 366 in a leap year).