At times your unique situation will require specialised expertise. We have access to a wide variety of finance options that are not restricted by standard lending criteria. As with any specialised product structure is the definitely the key. At Origin Finance our consultants are more than qualified to cater to your specific needs.
Split Home Loans
This type of loan setup is a way of hedging your bets. If you are unsure as to whether interest rates are going up or down, you can choose a Split Rate Loan.
With this type of loan, you nominate how much of your home loan you would like to be secured with a fixed mortgage interest rate and how much of your home loan (the remaining amount) you would like to put on a variable rate.
A Split Home Loan is a cautious way of borrowing.
- Having part of your loan at a fixed interest rate protects you against interest rate rises.
- Leaving part of your loan on variable interest rate leaves you less vulnerable if rates reduce.
- Additional payments are allowed on the variable portion of the loan.
- You may not benefit greatly from any interest rate fluctuations.
- You may be charged set-up fees, account fees and discharge fees on both the fixed portion and the variable portion.
- You may be penalised for making higher repayments on the fixed portion.
- You may be penalised if you pay off your loan before the due date on the fixed portion.
Many people find their super and other income sources, such as the pension, don't provide enough money to support their lifestyle.
Sometimes it`s not just a case of the little extras but also the critical necessities such as medical expenses or a new car. An obvious option for many is then to sell their biggest asset - their home, but that could just be compounding the problem. This is where reverse mortgages may provide the answer if you`re a full or partial pensioner or a fully funded retiree in need of extra cash.
Reverse mortgages are available to residential property owners over 60 and are viable finance options for pensioners. It allows you to release funds using the equity in your house. You can use these funds as an income stream, or to borrow against, for personal lifestyle needs such as travel, home improvements etc.
As with a traditional mortgage, there is interest to pay but you are not required to make monthly repayments. The interest is capitalized, which means it's added to the amount of the loan.
When your home is eventually sold you pay back the amount of the loan (the cash you received) plus the interest owing.
There are a range of reverse mortgage for over 60s options. Choosing the reverse mortgage home loan which is most appropriate for you depends on your individual circumstances and a range of other factors.
This is where the knowledge and experience of your Origin Mortgage Consultant can be invaluable. Our mortgage brokers look at your total situation and work with you in a professional and sensitive way to explain all your options and the advantages and risks associated with each of the loans, and whether a variable or fixed rate is the most suitable.
Many banks now offer professional packages for customers that often include a range of banking products designed to make your banking easier.
Professional packages aren’t just for professionals or high income earners though. Many banks offer packages based on the amount of money you borrow, with the amount of discounts available increasing as your borrowing amounts increase, beginning with as low as $100,000.
Some professional packages even offer extra benefits, such as discounts off your interest rates or fee free transaction accounts or some may even waive the annual fees for your credit cards.
While on the surface most professional packages appear to be very similar, there are subtle differences that can benefit different people, depending on your long-term borrowing goals.
A prime example of this is the availability of a professional home loan package that offers investors a chance to purchase further properties without charging any monthly account fees, no extra valuation fees or any further loan establishment fees. These fees are absorbed by the annual package fee already charged, which could mean substantial savings to anyone building up a property portfolio in a hurry.
Another example of the benefits a professional home loan package can bring is a complete banking package without the added costs of monthly fees on every account. Imagine holding a transaction account, a mortgage and a credit card all with different banks. You could be charged an account fee on every account you own, but with a professional package you could benefit from paying one simple annual fee that covers the costs of all these products along with the benefits of a discounted interest rate on top.
Yet another option available with some professional packages are further discounts on car loans, access to discounted margin loans and further special offers that aren’t always available to customers with regular mortgage accounts.
Professional packages can also offer amazing flexibility, with banks willing to waive product switching fees for professional package customers who want to change a variable rate over to a fixed rate or maybe even customers who wish to convert a principle-and-interest type loan over to an interest only mortgage option.
One of the primary reasons banks offer packaged products in this way is to try and provide as many of their customer’s banking needs as possible. By offering a package they are hoping that you’ll move your entire banking needs over to their business, so it’s in their best interests to offer a package that will be worth your while considering.
To learn more about the many different professional home loan packages available to you and to find out which ones will benefit you the most, call an Origin Finance consultant today to discuss your mortgage needs.
Commercial mortgages offer business owners and investors a range of options that extend far beyond what a traditional residential mortgage can offer.
Commercial lending is a specialised area of business banking, which means it's not quite as simple as just applying for a regular loan. For this reason it's important to liaise with a specialist who understands how to best represent your business proposal to the right lender to suit your needs.
Can I Just Go To My Own Bank to Apply for My Commercial Mortgage?
The bank or lender you use for your residential mortgage purposes might have the best possible mortgage products available, but can you be sure they'll have the best commercial loans available too?
No matter how good your current bank might be, it's always worth comparing commercial mortgages available between as many lenders as possible to be sure you're getting the best offer available to you. The difference in costs could be critical to your business venture's success.
Why Would I Need a Commercial Mortgage?
Most people believe only really large corporations need commercial mortgages. Small businesses use commercial mortgages for a variety of business-related purposes, including purchasing commercial premises such as offices, shops and warehouses, or even purchasing a business.
However, some investors may also benefit from using a commercial mortgage instead of a traditional residential mortgage. Small property developers may find that if they intend to sub-divide and re-develop a residential block of land where they may construct more than 4 new homes on the old title, then they will often require a commercial loan to fund the project.
My Business is Only New. How Can I Prove I Can Afford a Commercial Mortgage?
In many cases, commercial mortgage lenders will assess your ability to repay the loan based on the strength of your business venture or proposal rather than looking at your current income levels. The banks understand that the new commercial mortgage will be funding a business proposition and that your ultimate goal is to generate an income from your business activities. This is why the project you're considering is assessed as a business proposition separately to your own personal financial situation.
How Do I Apply for a Commercial Mortgage?
It's vitally important you speak with a specialist mortgage broker with experience in commercial lending before you apply for anything. If you'd like to make an appointment for a no obligation consultation for your commercial project, call one of the specialist Commercial Mortgage consultants at Origin Finance today to discuss your needs.
Construction Home Loans for Building
Building a new home can be a fun, exciting time. You get to choose all the great features you always wanted and you get to create a home that is uniquely yours.
Unfortunately, finding the right construction loan to suit your needs is not always so much fun.
How Do Construction Home Loans Work?
Banks have a slightly different mortgage quote process for setting up construction loans as compared to a regular home loan for an established house.
When you buy an established house, the bank extends the amount of money you borrowed in order to complete the purchase and you simply move into your new home.
With construction loans, your bank will generate a set of progressively drawn payments that add up to the total amount you borrowed. As your builder builds your home, your bank is sent an invoice for each stage of construction as it’s completed. Your loan is drawn several times until the builder has been paid, your house is complete and then you get to move in once all these stages are finalized.
It sounds complicated, but you don’t have to work through it alone. You have the option of working with a qualified, professional Origin Finance Home Loans consultant who will be happy to walk you through the process so there’s no confusion.
Do I Need To Buy a House & Land Package To Get a Construction Loan?
It’s not always necessary to purchase a house and land package from one location – although arranging a loan for a package does make your home loan options a little easier for you.
After all, you might find land you like much better somewhere else, or you might prefer a different builder to the one making you the offer. The choice is completely yours.
You do have the option of purchasing your vacant block of land first and then going out to source your builder once your land has settled. This could mean arranging two separate loans: one for your land purchase and another to pay for your construction.
Do I Have To Use A Licensed Builder To Construct My Home?
Some banks do have an option that may allow you to build your own home your way in your own time, but this option is definitely not suitable for the faint-hearted!
Generally, most banks want to see that the home you build is going to be a good security property for a long time to come. This is one reason why they prefer that you choose a licensed builder to construct your dream home.
If you’d like to discuss more options for building your new home and finding construction loans that suit your plans, contact a professional mortgage lender today.
Bridging Home Loans Advice
Many people find the idea of buying one home while selling another to be a complete nightmare. What happens if your old home doesn’t sell in time? What happens if you sell your own home too soon and you haven’t found a new one to buy yet?
Bridging home loans can simplify the transition between buying and selling properties. A bridging loan can offer you the simplicity of moving into your new home while your old home is still waiting for a buyer to snap it up.
How Does a Bridging Home Loan Work?
Your bank will assess the level of equity available in your existing home and then may decide to forward the entire purchase amount plus fees on your new home. This allows you up to 6 months to try and sell your old home while you’ve already moved in and begun enjoying your new place without the hassles of missing settlement dates.
Some lenders may offer you the option of capitalizing your interest payments into your equity, so this could mean you don’t even have to worry about making repayments on two mortgages.
Can I Use a Bridging Home Loan If I’m Building a House?
Yes! Bridging loans are an excellent option for anyone wanting to construct a new home.
So many people end up selling their old house first, moving into a temporary rental property and then having to move all over again when their new home is built. This is not only painful and expensive, but it’s unnecessary.
A bridging home loan means you get to stay in your own home while your builder completes your new dream home. Once your builder is done, you move in and you can simply put your old home on the market then.
What’s The Catch With Bridging Loans?
Of course while there are many advantages with bridging loans, there are some disadvantages too. In some cases, people may find it’s a little harder to sell their existing homes quickly, which means the interest charged on a large peak debt might get a little out of control.
While some people may decide to sell their existing home for a price lower than they originally intended, you do also have the option of placing short-term tenants into the property to help keep your interest costs covered while you’re trying to sell.
Other people may find they don’t quite have sufficient equity in their homes to qualify for a bridging loan.
The easiest way to learn more about bridging loans and if using a bridging loan is the right option for you is to contact a Choice Home Loans consultant. Our professional consultants are trained to find the right financial solution for your unique situation, so call and discuss your options today.
Business Loans for Commercial Investment
In addition to home loans our mortgage brokers also able to advise you on and provide a full range of business loans, including small business loans, and for property finance and investment property finance.
The most appropriate option for you depends on your individual circumstances and factors including your business sector, the nature of your business, any other debts your business may have, the businesses overall financial situation, the reason you require the business loan and what your timeframe is.
Loans for business can include lo doc loans if you are just starting out or self-employed, or equity loans to allow you to access the "cash" in your existing business. Perhaps you already have a business bank finance or commercial mortgage property finance, have realized you are paying too much in interest and would like to investigate refinancing your loan.
Whatever your business financial situation if you are looking to grow your business, purchase new premises, tide your business over a financially challenging slump or until Letters of Credit comes in or project documents are signed and deposits banked our consultants can offer you workable, economical solutions.
Also, understanding that financial issues can be highly time-sensitive, we will work with you and the lending institution to assist in rapid decision making to enable you to access your loan as fast as possible.
We also offer you the convenience of coming to you to save you time and to be better able to discuss and assess your needs. Located conveniently in all capital cities and most major regional centres, there is an Origin consultant within easy access to you.
With access to a wide range of business loans from bank and non bank mortgage lenders, your Origin Mortgage consultant can assist you in finding the best finance solution for your business or commercial investment.
Commercial Finance that Meets Your Needs!
Origin Finance don't only offer a broad range of home loans, our brokers also provide a full range of investment property and commercial finance options and offer a truly professional service that puts your needs at the fore.
The most appropriate commercial property mortgage finance loans will take into account your individual circumstances and factors including the nature of your business, any other debts outstanding to your business, the financial standing of your business, why you need to borrow the loan and the businesses ability to make timely repayments.
As we are located in Brisbane, Sydney, Melbourne, Hobart, Adelaide, Perth and Darwin, and in many regional centres, we are conveniently able to come to you, saving you time away from your business and giving us the opportunity to know your business better.
We will discuss your needs with you, drawing out all necessary information, then present to you a range of financial solutions that meet your business needs, whether that is taking out a loan for a new commercial venture or to assist in expanding your business, to buy new property or premises, access the equity in your business to manage your debts and cash flow or any other of a range of business finance needs.
Some needs for a commercial mortgage can also be time sensitive, therefore we work with you efficiently to gain loan approval or feedback quickly and meet all achievable deadlines. We also work to source the most practical interest and capital repayments that work in with your financial situation.
With access to hundreds of loans from leading bank and non bank lenders, your Origin Mortgage consultant can assist you in finding the best finance solution for your business investment or commercial finance needs.