Standard Variable Loan

The most common type of home loan can offer a number of features and flexibility. With a variable loan, the interest rate can vary throughout the term of the loan. An increase in rates means an increase in repayments, falls in rates decrease repayments. You can have the ability to make additional repayments. The loan term is normally 25 or 30 years.

Basic Variable Loan

A new variation on the standard variable loan, it's a basic version which offers lower interest rates, but has fewer features and is not as flexible. Interest rates and repayments can still vary over the term of the loan.

Fixed Rate Loan

A fixed rate loan is for those who want to know exactly what their repayments will be over a set period of time. It gives you great peace of mind over that period. If interest rates increase your payments remain the same.

Split Loan

Split Loans can give you the certainty of a fixed rate, with some additional flexibility. Borrowers can choose a proportion of the loan to be set at a fixed rate and a proportion at a standard variable rate. These loans offer protection against potential rate increases plus the benefits of lower rates and flexibility

Bridging Loan

Bridging loans are short term loans that allow you to buy a new property even if you haven't sold your existing one. They offer standard interest rates and generally you have up to six months to sell your existing property. You must have sufficient equity in your existing property to be eligible for this type of loan.

Line of Credit

Designed to give you the maximum flexibility with your finances a Line of Credit loan is not dissimilar to a large credit card facility. With this type of loan, you pay all your income into one loan account. The money goes to pay off your loan, but you can also access the funds as an all-in-one cheque, credit and savings account. Money kept in the account helps reduce your loan amount and interest charged to the loan. Interest rates tend to be higher than standard variable rates.

With a Line of Credit, as with a credit card, you only pay interest on the money you use.

This type of loan is best suited to people with a large disposable income, as it can assist them in paying off their loan sooner.

Lo Doc Loan

Lo Doc Loans have been established for borrowers who would normally not comply with the regular guidelines and assessment for a standard home loan product. They are ideal for the self employed, people with irregular income and those who don't have up-to-date financials.

There is no proof of income documentation required, however you must complete a self-assessment declaration and have a clean credit history.

Today, lenders offer a full range of features within their Lo Doc products, but interest rates can sometimes be higher than standard variable rates.

Reverse Mortgage

Available to people over the age of 60, it enables you to unlock any built up equity in your home, for your own use. Funds can be made available in one payment or as needed. There are no repayments required over the life of the loan. The loan plus accrued interest and charges are repaid when the property is either sold, the borrowers no longer live at the property, or are deceased.