Loan Types

Our expert Financial Advisors are dedicated to sourcing the right Home Loan type for your financial needs.

Flamingo Financial uses the latest in lending software that enables us to take the complexity out of securing Finance, Home loans and Business loans to offer you a straightforward solution.

To add to that, in addition to the standard features you would expect from a bank loan, Flamingo Financial can offer you a range of intelligent choices for the kind of borrower you are - whether you're a first home buyer, seasoned investor, business owner or property developer.

OUR LOAN TYPES

Variable Rate Loan

The interest rate on Variable Rate Home Loans will vary over the terms of the loan depending on the market. This loan type will generally offer you a wider range of features like mortgage offset accounts, the flexibility of making additional repayments and the ability to redraw payments in advance when you need.

Fixed-Rate Loan

Fixed-Rate Loans allow you to lock into a rate for a particular period of time, normally 1 - 5 years. This means that your repayment remains the same during the fixed-rate term - giving you peace of mind and security in a rising interest rate market.

Interest-Only Loan

Interest Only means that no principal repayments are required. Quite simply, you pay the interest portion with the original amount of the loan to be repaid at the end of the interest-only term. You'll also find that some loans can be split with an interest-only portion. This can help reduce your monthly repayments in the early years of the loan.

Construction Loan

A Construction Loan is a specialised loan used to finance the building of a new home where the lender draws down funds - commonly referred to as progress payments - to the builder as certain stages of the home are completed. Once the final progress payment has been made and the loan has been fully drawn down it is usually converted to the loan type you require.

Split or Combination Loan

A Split Loan, commonly referred to as a Combination Loan, allows you to split your loan into part fixed and part variable. This means you can take advantage of the features of a variable loan and at the same time enjoy peace of mind knowing that part of the loan is protected in the event that interest rates go up.

Line of Credit Loan (AKA - Revolving facility) 

A Line of Credit provides easy access to funds allowing you to deposit and withdraw funds up to an approved credit limit which is secured against the value of your property. This means that your funds are available whenever you need them. The Line of Credit is ideal for investors and borrowers who want a home loan which offers greater choice.

Low Documentation Loans

Low Documentation Loans are generally available if you're a Self Employed borrower, someone with a more complex income structure, or someone whose tax returns are not available.

With Low Documentation, Loans stated income verification documents generally aren't required. You simply sign a borrower's declaration. However, you'll still enjoy a competitive rate with great features but without the trouble of additional paperwork.

Bridging Loan

Bridging Finance allows you to "bridge" the gap between the sale of one property and the purchase of another. This can be useful if you're looking to upgrade from one property to another and the proceeds from the sale of the first property are not enough to cover the purchase price of the second. It is also used if the settlement date of the new property purchase takes place before the sale of the original property settles. If these two transactions are, say, a month apart, bridging finance can help fill that one month gap.

Private Equity Loan

Private Equity Loans are designed for people who fall outside the criteria of traditional lenders. For instance, if you have unusual income sources, limited deposit funds or previous credit problems you may still qualify for a loan through a wide panel of non-conforming lenders.

At Flamingo Financial we can discuss the best option to suit your current and future needs.

To find out more, just Contact Us.