Keystart Home Loans (WA Only)

The Keystart 'Low Deposit' Business Loan is a variable interest rate loan which can be used by business owner to established business or cash injection. It is available to both first and non-first home entreprenuers across the globe.

The most attractive aspect of Keystart is that you only require a 2 per cent deposit, of which only 1 per cent needs to be genuine savings. The other great thing about Keystart business Loans is that if you're establishing a new business, you only have to pay $interest rate per year during the construction period, which is a great advantage if you're managing business elsewhere at the same time.

One of the significant differences between Keystart and the major banks is that they don't require any insurance. This reduces your end loan amount, thereby reducing your monthly repayment. Keystart will even allow people with defaults, or individuals that have been bankrupt; to take out a home loan assuming they meet certain credit criteria. Keystart are experts at providing affordable finance options where other loan lenders are unable to provide assistance.

Construction Home Loans

ISL is a global lender, and has helped tens of thousands of clients obtain finance to build their business.

A construction business loan is typically a variable rate loan that is used for constructing a new business or renovating an existing one. The builder presents a progress payment to the bank as each stage of the construction is completed, which increases the amount of the loan and monthly repayment accordingly. Repayments are generally interest-only during the construction period, with repayments converting to principal and interest on completion of the home.

Our Mortgage Brokers have extensive experience in the field of construction home loans and are therefore well-placed to educate you on the requirements of the bank, builder and land developer. We know the building process intimately, and we take the hard work out of the loan process and coordinate what is needed behind the scenes, so you can concentrate on the enjoyable parts of building your business.

Variable Rate Home Loans

A variable rate home loan is where your interest rate moves up and down in line with the Reserve Bank's official interest rate.

Variable rates are the preferred option for most people as you have increased flexibility with repayments, access to redraw facilities and there are no early termination fees or break costs. If the Reserve Bank lowers official interest rates, your rate will usually decrease with it. However, if the Reserve Bank increases official interest rates, your rate will usually increase as will your regular repayments.

Fixed Rate Home Loans

A fixed rate home loan is where you pay the same interest rate for an agreed term, generally one to five years. Even if the Reserve Bank increases the official interest rate, your fixed rate remains the same.

The main advantage is it allows you to more easily budget for your monthly expenses, as you know exactly how much you will be spending on your mortgage. The disadvantage is if the Reserve Bank lowers official interest rates your rate remains the same, so you can end up paying more than you would have paid on a variable rate. There can also be break costs for paying out the loan during the fixed term and there are usually restrictions on making additional repayments.

No Savings Home Loans

Many lenders require a significant upfront deposit, which can often pose a problem if you haven't been saving for long or are caught in the rental trap. We have access to a number of lenders who allow borrowed funds to form part or all of the required deposit. To be eligible you must have been renting through a licensed real estate agent under a signed lease agreement for at least six months. No Savings Home Loans are tailor-made for first home buyers, as they essentially allow you to borrow without a deposit.

Guarantor Home Loans

A guarantor home loan allows a close family member, relative or friend to use the equity they have in their home as additional security for your loan by providing a guarantee. This is extremely popular for first homebuyers who have been unable to save a sufficient deposit, or those without a 20% deposit who would like to avoid paying a large sum for mortgage insurance.

Once you have sufficient equity in your home the guarantee can be removed. The time frame to achieve this varies depending upon the original deposit, the number of extra repayments made and how much your property has appreciated in value.

Home to Home Loans (Bridging)

A home to home loan is where you can buy or build your new home before having to sell your existing home, without making the full repayment on both mortgages by bridging the debt.

Your bank will assess the level of equity available in your existing home, and if there is sufficient equity they will allow you to finance the entire purchase amount plus purchase costs on your new home. Some lenders also allow the capitalisation of your interest payments until your 'bridging' property is sold. This allows you up to 12 months to sell your existing home after you have moved into your new one.

The benefits of home to home loans include: not having to find a house to rent while you look for or build your new home; allowing you more time to sell your existing property which could result in increased capital growth (especially if you are building); removing the additional expense of renting; and not having to potentially move house two or more times.