- For higher loan amounts
- Not only for Professionals
- Additional loan features
- Flexible loans
Professional home loan packages
Professional packages are generally offered on home loan amounts over a certain (higher) value. Whilst originally designed for higher value clients such as professionals, the loan is available to anybody who takes a loan over a particular value (Eg $150,000). Note this varies from lender to lender. Usually, the greater the loan amount the more likely the lender will be able to offer additional features or benefits, such as lower interest rate and discounts on other lender products.
Note that just because you may be eligible for a professional package, you may not need all of the services offered and may be just as well off on a more basic loan offer.
Benefits:
- Generally offer a discount on the standard variable rate
- Offer additional features such as line of credit products
- Can also receive discount on other services offered by the lenders
Disadvantages:
- Usually an annual fee applies to the loan
- May be able to get a better rate of interest on basic variable loan
When it’s time to go shopping for a home loan it can be a daunting time. The home loan market has thousands of loan products available, and this is why it is highly recommended to use a professional mortgage broker to sift through the minefield of home loans to find the most suitable loan for you.
To discuss your options in more detail simply contact a Time Finance mortgage broker to help you on identifying the type of loan that most suits your requirements, and purpose of loan.
Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.