Home Loan

For decades, property investment has been a favourite of Australians looking to build their wealth.

Purchasing an investment property, when done right, can increase your financial wealth and even set you up for a comfortable retirement.

In contrast to an owner-occupier loan, investment property loans carry a higher interest rate and a lower loan-to-value ratio (LVR) limit. People wanting to purchase their own home usually need to borrow up to 95% of the property’s value, while an investment property loan is mostly limited to 90% of the property’s value.

The deposit for an investment property loan can be made with cash savings, or equity in an existing property including your own home. In some cases where equity in another property is used, a borrower may borrow 100% of the investment property purchase price plus any associated costs, such as stamp duty.

When you start on the road to building a property portfolio, Cash Store Loans can help you secure an investment loan with a highly competitive variable or fixed interest rate. A lower interest rate means lower repayments, which makes your investment property less expensive.

We can help minimise the fees you have to pay for your loan and provide you with a mortgage with features such as an offset account to help you build up savings while reducing your interest charges.

Investors can choose fixed or variable repayments. Variable rate loans are easier to pay off faster or refinance without an exit fee, and are currently lower than fixed rate loans. But a fixed rate loan lets you lock in an interest rate and forget about rates rising. There’s also the option of splitting your loan into fixed and variable rate portions.

Contact Cash Store Loans if you are ready to become a property investor.

Find out if you could get a better deal on your home loan.

Are you 100% sure your loan is still the right one for you?

You should never set and forget your home loan as often there is another loan with a different lender that may better suit your needs and even save you a significant amount of money.

The best place to start is with a home loan review. The specialists at Cash Store Loans can review your mortgage and we may recommend that you will be advantaged by refinancing to a new home loan.

You can refinance your home loan at any time. But be aware there can be refinancing costs. Care should also be taken if you are currently on a fixed rate loan or thinking about fixing your home loan rate as break costs may apply.

There are no limits as to how often you can refinance your home loan. However, you should consider the time and costs of refinancing. Some mortgage holders would refinance their home loan every three to five years.

Eligibility for refinancing depends on various factors such as credit score, income, property type, and loan-to-value ratio. However, even if you don’t qualify for a traditional refinance, there may be other options available.

The refinancing process typically involves a credit check, an appraisal of the property, and an underwriting process to determine your eligibility and the terms of the new loan.

Send us an online inquiry through the form on this page and one of our friendly Cash Store Loans specialists will contact you to discuss your options.

Your home loan needs a foreman too. Let us construct the ideal loan that helps you achieve your renovation dreams today.

Financing a home renovation can vary depending on the size and complexity of the job, which can range from a new swimming pool or a kitchen upgrade to building a major extension to the home.

If you need extra finance for your home improvement budget, the specialists at Cash Store Loans can take you through a variety of strategies to secure the finance required for the job.

These strategies can include refinancing your existing home loan using the equity built up in your property, which for some mortgage holders could be a substantial amount to pay for a big job. For smaller renovations such as a bathroom upgrade, you could apply for a personal loan, although this will usually have a higher interest rate than your home loan with a much shorter repayment term.

Depending on your loan arrangements, you may be able to borrow extra funds on your existing home loan without having to take out a new loan.

If it is a major renovation, then a construction loan may be what you require. This is similar to a standard home loan, except the funds are released by the lender in stages as construction progresses to ensure you’re only paying for work that’s been completed.

Cash Store Loans can help with any strategy you favour to pursue your home renovation dreams. Get in touch with us today!

Commercial loans can be obtained for purchasing commercial properties including service stations, hotels, pubs and clubs, car washes, industrial warehouses, manufacturing plants, storage facilities, cafes, offices, retail stores, shopping centres, car parks, mixed use sites, and special purpose sites.

Finance for commercial property is via special commercial loan products such as term loans, small business loans, business lines of credit, bridging loans, SMSF loans, low doc loans, lease doc loans, and bank bill swap bid rate (BBSY) commercial loans.

Loan terms are usually shorter than residential mortgages, ranging from three to 25 years, carry higher fees and interest rates, and often come with conditions known as covenants that the borrower must meet to satisfy the terms of their loan.

There is greater flexibility around the structuring of commercial loan facilities, which can be tailored depending on the transaction and the borrower.

Obtaining approval for commercial property finance can take longer than residential property finance approval. This is mainly due to the types of checks and analysis that takes place on commercial finance applications, as well as valuation reports taking longer to prepare.

Talk to Cash Store Loans about obtaining commercial finance.

Many Australians choose to establish a self-managed superannuation fund (SMSF) to build their retirement nest egg.

The SMSF must be run for the sole purpose of providing retirement benefits for its members. An SMSF differs from an industry or retail super fund because it gives the trustees in the fund control over how retirement savings are invested. Those who are part of the SMSF must ensure it complies with tax and superannuation laws.

The SMSF can use its funds as a deposit to purchase a residential or commercial investment property and take out a loan for the remaining amount required to fund the purchase.

Strict conditions apply when using your SMSF to purchase property. Any rental income or capital gains from the property are reinvested into the fund and can only be accessed at retirement.

To apply for an SMSF loan, you will need to provide a certified copy of the SMSF Trust Deed, a certified copy of the Custodian Trust Deed, at least three years of the SMSF’s audited financial statements, 12 months of SMSF bank statements as well as rental estimates and a copy of the contract of sale for the property being purchased.

Specialists at Cash Store Loans can help if you want to obtain a loan for your SMSF.

A borrower is considered self-employed when the income they receive, and which is used to repay their loan, comes from working for themselves rather than an employer.

Self-employed applicants include those working as a sole trader or in a partnership, or where their income is generated by a company or trust of which they are a shareholder or unit holder. Borrowers who are working as PAYG employees of a company they own more than 25% of are also regarded as self-employed applicants.

Often self-employed home loan applicants are turned away by the traditional lenders. This could be because they haven’t got the required financial records, or they have a poor credit history.

But Cash Store Loans as a Non-Bank Lender can find an affordable financial solution for self-employed borrowers with a low-doc loan option.

This type of loan involves less documentation when compared to prime full doc home loans and in most cases, approval is faster and easier. The downside, however, is the interest rates may be higher than that of prime loans. But when you consider the speed and convenience, low-doc loans are a viable and advantageous financial solution.

Cash Store Loans know what is required to assist someone who doesn’t pass the traditional lender’s check list. Contact us if you need help.

Alt-Doc stands for alternate documentation. Alt-Doc loans suit borrowers who fall short of the standard income verification requirements of a regular home loan. Most lenders require full income verification using pay slips and income statements, but not all borrowers for a range of reasons are able to provide this documentation.

When two full financial years of up to date tax returns and Notice of Assessments (NOA) from the Australian Tax Office (ATO) are not available, some lenders will consider one or a combination of alternative documents to support the self-employed applicant’s income. These documents could include Business Activity Statements (BAS), bank statements, accountants’ letters, and income declarations.

With the ability to accept alternative income documentation, Cash Store Loans stands as the ideal option for customers who are unable to provide the traditional two years of financial statements generally required to obtain finance. From small to medium business owners, contractors and Company’s or Trusts, Cash Store Loans can cater for all types of borrowers.

Regardless of the borrower’s employment or circumstances, Cash Store Loans has the product solutions available to accommodate all types of scenarios. Often these solutions are not available through a major bank and clients can come to the specialists at Cash Store Loans because we are able to provide options they cannot get elsewhere.

Building your dream home or undergoing a major renovation?

Many people want to build their dream home or undergo a major renovation at their existing property. For these people a construction loan via Cash Store Loans is the answer!

A construction loan is similar to a standard home loan, but while you’re building there are some important differences. The funds are released in stages as construction progresses to ensure you’re only paying for completed work.

There are typically five stages of construction – the foundation slab, the frame, the lock up when windows, doors, walls and roofing are installed, the fitting when internal fittings such as electrics and plumbing go in, and finally completion. Your builder will issue an invoice at each stage and Cash Store Loans will help you to process payments.

During the construction period, it’s common practice for the borrower to cover the interest accrued on the expected final loan amount, before moving to a more traditional principal and interest repayment structure once the property is complete.

Talk to a specialist at Cash Store Loans and let us help make your new build or major renovation a reality.