Simple home loan solutions perfect for you

Simple home loan solutions perfect for you

Save thousands off your loan with Approved Property Finance

Buying a home is a huge decision, regardless of where you are on the property ladder. Whether you’re searching for your first home, your next home or an investment property, we can help you find the right home loan for your individual circumstances.


Everyone has different needs when it comes to their home loan, which is why we work with over 50 lenders to offer a wide range of options. Regardless of whether you’re looking for a great interest rate, are self-employed and need a low-doc loan, or have bad credit history and just need a fresh start.

Types of loans available

This loan is the most common amongst borrowers. The interest rate is variable and can move up or down, thereby adjusting your repayments. This loan offers more flexibility than other loans as you can usually make unlimited repayments and redraws without penalty.

Many standard variable interest rate loans also offer a 100% offset account whereby any balance in the offset account is deducted from the outstanding loan prior to calculating the interest payable.

A basic loan is also a variable loan but usually offers less features than standard variable loans.

 

Generally there is a minimum amount that can be redrawn and there is usually a fee involved. These loans generally don’t include an offset account.

A fixed loan allows you to fix the interest rate for a period of time, generally between one and five years, with some lenders seven, ten and even fifteen years.

After the fixed term, the loan usually reverts to the standard variable rate on offer at that time or you may choose to refix the loan for another term. With fixed loans the interest rate is fixed on the day of settlement unless the rate is locked at application which incurs a fee.

The repayments on a fixed loan do not change during the fixed period and provide customers with certainty about their repayments. The majority of fixed rate loans limit the amount of additional repayments which can be made each year, however some lenders offer fixed rate loans with unlimited repayments and redraws. If you decide to sell your home whilst on a fixed interest rate, a penalty will generally apply unless you replace the security with a new security.

These loans are extremely flexible and are similar to a credit card with a large limit. You can repay as much as you want and redraw as much as you want.

With this loan it is important to budget appropriately so that you repay more than you redraw otherwise you could end up owing the same amount for a long period of time.

With a line of credit some lenders require the borrower to make an ongoing repayment while others allow the interest to be capitalised such that the loan outstanding increases.

Offset Account

With a 100% offset account, the interest charged on the home loan is calculated on the difference between the home loan balance and the balance you have in your offset account, thereby reducing interest and the loan term!

Portability

A portable loan allows you to sell your house and move to a new one without having to discharge your loan and reapply for a new one. This saves application and legal fees. Most lenders, however, insist that the loan amount is the same or less.

Redraw Facility

A redraw facility allows you to make additional repayments on your mortgage, and then have access to the additional repayments. Make sure you understand the conditions attached to the redraw facility as it can include a minimum amount and a fee every time you use it.

Additional Repayments

If you expect to have some extra money from time to time, making additional repayments over and above your regular loan repayments can significantly reduce your balance and the amount of interest you pay.

Weekly/Fortnightly/Monthly Repayments

By making repayments fortnightly or weekly, you effectively make an additional monthly payment per year. This can assist in reducing the term of your loan.

Repayment types

Both the principal and the interest are paid during the term of the loan. These can be either variable or fixed rates. Part of the repayment is used to repay interest while the balance is used to repay the principal of the loan. Repayments are calculated based on repaying the loan within a set period, usually 25 or 30 years.

A loan in which only the interest each month is paid. The loan amount does not decrease as you are only paying the interest and nothing off the principle.

 
 

What our clients say on Google

"If you're looking for someone who will go above and beyond to help you get a loan, James is your guy. He was so supportive through my whole loan process that I literally couldn't have done it without him. Extremely knowledgeable and helpful at every stage."
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Robert McFarlane
"I worked with James to get my loan sorted. One thing I loved about his service was I never had to ask him for an update. He kept me informed every step of the way. We had some hurdles to get over because of my difficult situation but he was professional, found the right option and got my loan approved really easily. I'd definitely use James again. Very impressed! Thanks again."
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Michael S
"James is a dedicated and caring individual who went above and beyond to organise our loan. He is incredibly knowledgable with a high attention to detail, he's also a fantastic communicator who constantly checked in with us on the journey. If I could give him 10 out of 5 stars I would!"
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Gabriella Sanderson
"James went above and beyond to help secure my first home loan. He made the process so easy! I couldn't be happier!"
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Jack Good
"Working with James on the entire process of arranging a loan, advice on house hunting and assisting me with guidance and advice was so welcomed and appreciated. A process that I believe is meant to be very stressful was in fact, enjoyable and no stress at all. Thank you."
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Lisa Spear
"Thank you James for all your help and hard work with our mortgage. Your service has been outstanding and I am thankful for your continued help allow the way. You have made the whole process easy and I would 100% recommend your services. Thank you"
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Jason Edwards
"As a buyers agent I have dealt with lots of mortgage brokers. James is someone I deal with regularly and it’s always a pleasurable and professional experience. His communication is regular and thorough which plays a big part in making the property buying journey smooth and successful. And he is always available for any questions that may arise. I never hesitate to recommend him to my clients."
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Nadine Morris
"Big shoutout to James (again). What a great service, great input on the property, from appraisals to rental potential and detail on the historical suburb growth (within minutes of telling him the new address). Not only did he turn around the loan approval quickly for us he also offered great input for the decision to purchase."
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Kathleen Bartlett
"James made us feel at ease from start to finish. We had been turned away from another broker but James was able to help us with our mortgage, we admired his communication and positivity throughout the process."
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Grace Andrews
"James helped us through every step of the process. James worked tirelessly to help secure a place on the First Home Owners Loan Scheme. We always felt like James had the time for us and answered all our questions. As first home buyers it was amazing having James in our corner fighting for us. We are so thankful! We would highly recommend James to anyone looking for a mortgage broker."
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Cherith Withington
"Approved Property Finance set me up for an investment property. They were very professional right throughout the whole process. I can not recommend them enough."
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Adrian Levi
"James is a great guy and easy to work with. He keeps a solid eye on which banks and lenders are offering the best rates and is able to quickly advise the best course of action. If you're wondering whether or not you're on a competitive home loan deal, I recommend you give James a call."
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Will Swayne

Repayment types

Your Approved Property Finance broker will meet with you, discuss your options and assist you to select the most appropriate loan. Thereafter your broker will complete the application forms and submit the application to the lender.

Once the application has been lodged the lender may request additional information. Thereafter they will either reject or approve your loan. A conditional approval is subject to a property valuation and any other conditions of the lender. Usually takes 5 days.

Unconditional or formal approval is provided once the property has been valued and all other conditions have been met. This process usually takes 3 days after all the conditions have been met.

Under normal circumstances, it will usually take 5 days until the lender sends a copy of the mortgage documents to either yourself or your conveyancer. Once you receive these documents you will need to sign them and return them to your lender within 5 days.

 
 
 

Once your loan documents have been returned to the lender the lender will certify your file and will then book in settlement. At settlement, you will officially be granted the amount of the loan.

 
 

Need help getting approved for the right home loan?

Call 0490 188 219

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