We have a team of experienced brokers at Greenline Home Loans who can assist you with acquiring and applying for commercial property loans, investment loans, home loans, bridging loans, debt consolidation and more. Our team can ensure we offer top customer service, provide personalised advice, and guide you through the process of an investment or commercial property loan.
Our commercial property loans and investment property loans have several features which aim to assist you in meeting your financial and personal goals, with added ease and security.
Commercial property loans
You may be looking for a commercial property loan for many reasons. Commercial property loans are generally used when someone is looking to buy a premise for their company, although can sometimes be used when an investor is looking to diversify their property portfolio. Greenline Home Loans can assist you in finding the best commercial property loan for you and provide many benefits and offer a range of opportunities for you and your business, which may include:
- Onboarding of new staff members
- Implementation of new contracts
- Increased stock levels
- Equipment upgrades
- Initiatives and campaigns to boost new business
Greenline Home Loans can assist in all aspects of applying and acquiring your commercial property loan, and will work with you to understand your circumstances, goals, requirements, and budget. Our commercial property loans have 4 main features which include:
- Flexibility with loan terms – a commercial property loan can generally be paid off over a shorter loan term in comparison to a home loan. Our commercial property loans are offered over various terms.
- Interest-only repayments – commercial lenders may be able to negotiate interest-only repayments for commercial property loans for people who meet certain requirements such as a large deposit and strong cash flow.
- Capitalising interest – there may be the possibility for the interest of your loan to be added onto the commercial property loan depending on some variables such as the loan staying below a certain threshold and under a specific percentage of the property value.
- Line of credit facility – line of credit offers flexibility, control and value which may be beneficial for a commercial premise as maintenance and costs can add up.
Our experienced brokers at Greenline Home Loans can answer any questions you may have about commercial property loans, the process of applying and what the loans entail.
Investment property loans
A residential investment property may be an appealing option if you are looking to expand your investment portfolio or meet your financial and investment goals. Our friendly team aims to guide you throughout the process of securing an investment loan, from the application process through to post-settlement.
Greenline Home Loans can assist you in finding the best residential investment property loan for you and provide many benefits and offer a range of opportunities for you and your investment goals, which may include:
- Interest-only payments – interest-only payments allows borrowers to only pay interest for a set amount of time, which generally ranges from 5-10 years which is a great way to save some extra money.
- Offset account – an offset account can be used by investors as a form of a savings account, which may reduce the interest charged towards your loan depending on the balance of the offset account.
- Repayment holiday – a repayment holiday can be used if the investor needs to take a break from repayments (which is generally available for up to 12 months) in the event that the property is unoccupied, and the investor is not able to rely on rental income.
- Line of credit facility – a line of credit facility may be an option where the investor can borrow additional money without reapplying, and it will be secured against the equity in the property.
Our friendly team at Greenline Home Loans can assist you with any questions or queries you may have about investment loans. We aim to assist you in meeting your future and financial goals!
Reach out to Greenline Home Loans today!
If you have been considering buying a residential investment property, or are looking into commercial property loans, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider purchasing an investment property to looking at investment property loans. Contact our friendly team of brokers to speak about investment loans, commercial property loans and home loans on 1800 705 505 to get started today!
At Greenline Home Loans, our aim is to provide the best home loans with the best home loan rates to suit people with various needs. We offer which include residential home loans, residential investment property loans, home loan refinancing, debt consolidation, bridging loans, construction loans and cash out equity release.
Below are some of the best home loans we offer at Greenline Home Loans and the features they offer:
Residential home loans
Applying for a residential home loan can be overwhelming and difficult to understand, that’s why our experienced team at Greenline Home Loans can provide you with all relevant information and assist you in the application process to ensure you have access to the best home loans.
We aim to provide low rate home loans, low fees and increased flexibility to suit your needs and requirements. Our professional brokers have extensive knowledge of Australian residential home loan markets! Get in contact with our friendly team at Greenline for assistance with a residential home loan.
Residential investment property loans
Residential investment property loans are a great option if you are looking to purchase an investment property, or you are looking to expand on the market as an experienced investor! At Greenline Home Loans, we offer low rate home loan options for residential investment property loans along, which have beneficial features such as the loan process being hassle free and convenient as well as having access to cost effective options.
Home loan refinancing
There are several reasons why you may want to refinance your home loans such as debt consolidation, a change in your personal circumstances, wanting to release equity from your property and more. Our home loan refinancing options provide a number of features which include equity access, lower interest rates, flexibility and the ability to reduce the length of your loan.
Our advisers at Greenline Home Loans can assist you with home loan refinancing by customising solutions to fit your requirements and needs with options such as interest-only loan terms, a combination of fixed and variable loans, offset and redraw facilities and guaranteed loans.
Debt consolidation
Debt consolidation will combine all your debts into a single loan or one credit card amount, which may make this a beneficial option if you have been managing multiple loans or credit cards and you are wanting to consolidate them. Debt consolidation will leave you with one loan which means you will now only have one repayment cycle. There are many product features of our debt consolidation at Greenline Home Loans which include a reduction in your costs which will maintain your debts, an improvement in your credit score, a fixed end date and simplified repayments.
If you are wanting to consolidate your debts into a single loan, manage your debt, easily track your repayments, save on loan fees, and interest rates, our team at Greenline Home Loans can assist you!
Bridging loans
A bridging loan can ensure you have time to sell an existing property when purchasing a new home, without the added stress of having to line up, and time settlement dates. There are many features of a bridging loan which include utilising flexible lending criteria, being fast to arrange, utilisation of an interest-only bridging loan and being convenient.
Our team at Greenline can provide you with the lowest bridging loan rates and answer any questions you may have about the loan approval process.
Construction loans
A construction loan is commonly referred to as a drawn-down loan, as the loan is drawn down progressively to pay for each stage of the construction process. Generally, for the first 12 months of the loan the loan is based on an interest only basis, then the loan will generally revert to principal and interest payments. A major benefit of a construction loan for many people is the advantage of managing your cash flow effectively throughout the building stages.
A construction loan generally contains 5 stages which trigger the progression of the draw down. The 5 stages include slab down or the base, frame stage, lockup, fixing and completion. Get in contact with our experienced team at Greenline Home Loans who can assist you with any further questions about the process or information regarding construction loans.
Cash out – equity release
A cash out/equity release may be the best option if you are looking to meet some personal goals such as renovating your home. One of the main benefits of owning your home is being able to have access to the equity in your property and use it as collateral when you are looking to make home improvements such as renovations.
The features of a cash out equity release include prolonged repayment terms, a possibility of tax-deductible interest, lower interest rates and fixed interest.
Reach out to Greenline Home Loans today!
If you have been considering buying your first home, buying a residential property or wanting a residential investment property loan and are looking for the best home loans, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider a residential home through to the option of home loan refinancing. Contact our friendly team of brokers to speak about low rate home loans on 1800 705 505 to get started today!
Over the past year we have had many inquiries from people looking to purchase a house & Land package or complete a knockdown-rebuild on their existing home.
Building your own home is an experience like no other. Having the ability to choose exactly what your home will look like, inside, and out, rather than buying a house designed by someone else, means you get to live in your dream home. But there are a few things to consider, pros and cons, which we thought you should know about.
To begin with, you will need to apply for a construction loan which is different to your standard mortgage loan when buying an established home.
What is a construction home loan?
The construction loan is also known as a progressive Drawn-down loan. The loan is progressively drawn down as required to pay for each stage of the construction.
The loan is typically provided on an interest only basis for the first 12 months, allowing you to manage your cash flow more efficiently during the building stages. Once construction is finalised, the loan typically reverts to Principal and Interest repayments.
How do progress payments work?
Typically, there are 5 stages of the construction process which will trigger the progression of the draw down.
- Slab down or base
The initial portion of the loan, which is designed to cover the ground levelling, plumbing and waterproofing of the foundations. - Frame stage
The portion of the loan which is designed for building the frame of the property. This covers the initial brickwork, windows, roofing and trusses. - Lockup
The portion of the loan which is designed to support the construction of external walls, along with putting in place windows and doors, making the property lockable. - Fixing
The portion of the loan which is designed to support payment for the internal fixtures and fittings. This covers plumbing, electricity, installation of cupboards and external gutters. - Completion
The final portion of the loan which is designed for the conclusion of items that form part of the construction contract, putting in place the finishing touches.
For the purpose of calculating the interest applicable on the loan, the repayments are calculated based only on the amount that has been drawn down. For example, if the total approved construction loan is $400,000 but you have only drawn $100,000 to pay for stage 1, your interest is only based on the amount drawn of $100,000. This means you are not forced to pay any interest on funds that have not been used, saving you in interest repayments and supporting your cash flows.
While the rates on construction loans might be slightly higher to begin with, once construction is completed the loan can revert to a standard mortgage loan, enabling you to benefit from lower rates.
Now that you have a simple understanding of construction loans let us talk about some of the issues our clients have faced with their construction purchases and loan applications and how we have helped solve every issue and get our clients to achieve their dream of owning their self-designed home.
Limitations on lending
Determining the amount of borrowing the lender will approve depends on several factors which include the valuation of the property upon completion of the construction stages.
While most lenders will allow you to borrow up to 95% of the property value when applying for a loan on an existing home, construction loans can be limited, and the maximum lending can change from lender to lender.
In current market, most lenders limit that borrowing for construction purposes to 90% which means you need higher savings to support this type of purchase. Some lenders even limit the lending amount to 85% and even 80%.
Greenline Home Loans ensures we are kept up to date with the lending market to ensure we can find our clients the most suitable solutions and when required find them the lender to support the purchase on the 95% LVR basis.
Essential repairs
When signing a construction contract with a building company it is important to understand what is included and what is excluded from the contract. Ideally you would want everything included in the contract, from the house interior including flooring, blinds or the air conditioning unit, and exterior all the way to the driveway, landscaping and fencing in the back.
The valuation report which supports the loan application will include any item excluded from the contract and an amount itemised under “Essential repairs” which the lender will want to ensure you have sufficient funds to cover. Essential repairs can amount to $20,000 or $30,000 at times and this means you will need to hold that amount in addition to your required deposit funds prior to the loan being approved.
At Greenline Home Loans we support our clients and have been able to secure lending for these out of contract items by providing the lender with quotes for these out of contract items and borrow funds to pay external contractors for the work.
Progress payments
Once you have secured the loan and settled on your land you will move into the construction stages. At this stage, the builder will issue invoices against every completed stage of the construction and will request payment. There are several steps that must be followed before payment is made by the lender including an inspection of the construction site by the bank valuer, and provision of supporting documents from the builder. Most builders request payment within 7 days of issuing an invoice, with penalties for late payments, which can put a lot of stress on the clients to ensure all requirements are met in a timely manner.
At Greenline Home Loans we take the stress away from our clients and support them throughout the entire process by managing all construction stage progress payments and liaising with the builders, lenders, and valuation firms to ensure a timely turn around time for each payment request. This takes the stress away from our clients and can save them potential penalties.
If you are considering building your dream home and need to discuss your finance requirements, talk to our team of experienced brokers at Greenline Home Loans. We will tailor the best solution for your needs and walk with you hand in hand from the first day you consider the house design and until you get the keys and move in.