Take a look at the most frequently asked questions. You might be able to find answers to what you are really interested but still not yet known.
What is offset account?
- Offset account is like a saving account. When you have excess money, you can put it in this account so that it can offset your home loan interest to the same extent. For example, if you loan amount is $500,000 and you have $100,000 extra cash and put them in offset account, then you only need to pay interest of $400,000. Moreover, it allows redraw at any time you want.
Can I switch to fix rate when my loan is variable or the other way around?
- You can definitely switch to fix rate when you loan is still variable. However you cannot do the other way around. You have to wait for the fix rate term to finish before switching, otherwise penalty applies.
Which bank offers the lowest interest rate?
- Variable rate changes all the time. So it is really hard to say which bank offers the lowest interest rate. But we can definitely assist you getting a lower interest rate with your finance institution at the time of lodgement.
How long will a loan get approved?
- If all the documents are in right order and fully completed, it generally takes about 4-5 business days to get formal approval. However if the bank needs more supporting documents, then it will depend on how fast we gather the information and they process.
I am not an Australia PR or citizen; can I buy investment property and borrow money from bank?
- Yes, you can buy properties in Australia even you are not Australia PR or citizen,subject to the purchased property is brand new and has never been previously sold or occupied. Most banks lend money to foreign investors, nevertheless they will ask for more detailed information and a more strict lending policy will apply.