Is a basic home loan package suitable for me?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Is a basic home loan package suitable for me?

Post by Otto Dargan »

Hi Quina,

You may consider applying for a basic home loan if you are looking for a simple home loan. For such a loan, lenders may offer lower ongoing fees and often a reduced application fee. They may also waive them off completely. However, the flexibility of your mortgage may be limited.

You'll miss out on the opportunity to pay down your mortgage faster.

Basic home loans may be more suited for you if you are:
  • Applying for a basic loan under $250,000 - You may be able to get a lower interest rate than the standard variable rate. However, you may not be eligible for a professional package.
  • Not looking to change lenders - You may not want to receive the additional products such as cheque account and credit card with your loan.
Please note that a basic home loan may not offer the same special discounts for people borrowing over $1,000,000. However, with the features of a basic loan, you may only be paying for what you may need and want, at a lower cost.

To learn more about basic home loans, you can visit our website. You can also reach us by calling us on our overseas number +612 8068 2257 or by filling in our free assessment form to find out if you qualify for a loan.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Is a basic home loan package suitable for me?

Post by Otto Dargan »

Hi Quina,

We have more than 30 plus lenders [/url=https://www.homeloanexperts.com.au/about_us/lenders/]on our panel[/url]. As a specialist mortgage broker, we strive to match our customers with the home loan that suits their needs. With our lending panel, we offer:
  • More choice.
  • Free bank valuations.
  • Access to specialist lenders.
We have access to loan products from:
  • Major banks like Commonwealth Bank (CBA), St George, NAB and Westpac.
  • Building societies, credit unions and regional banks.
  • Non-conforming and specialist lenders, like Pepper and Liberty.
  • Private lenders.
Speak to us today on +612 8068 2257 if you’re outside of Australia or on 1300 889 743 if you’re in Australia. You could also enquire online and one of our expert mortgage brokers will contact you to discuss your situation.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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