Detailed Explanation of Owner-Occupied Home Loan & It’s Essential Features

In this case, owner occupied home loan is perfect solution. There are many loan attributes that can not only help you save money, but also assist you in accomplishing the ideal monetary wellbeing. Applying for a loan is especially overwhelming for first-home buyers. Since their knowledge and experience in the market is genuinely restricted, it is highly advised to do broad research about the products presently available in the market and their features.

Essential Features of Owner- Occupied home loans:

Low proceeding fees and discharge cost: When thinking for an owner-occupied loan in Australia, it is important that you have a thought of every cost the product entails. You will likely want to save money on your home loan and you will get to test your negotiation skills when requesting for your lender to waive or, at any rate, diminish the ongoing charges you will have to settle. If possible, look for lenders that will allow you to pay in advance costs. This will help reduce your monthly load if all loan costs are to be paid at the beginning of the contract.
Fixed interest rates: If there is one thing first-home buyers need from a home loan, it’s assurance. A fixed interest rate permits borrowers to know ahead of time how much they will be paying month to month for a specific timeframe. This will surely help you budget more efficiently.
Redraft facility: In a home-loan feature, a redraft facility provides an opportunity for you to access extra instalments the you have already made to your loan. Consider it like keeping for later — you make additional repayments and the sum you accumulate by doing so will be accessible to you whenever you need it. The redraft facility is useful for budget-conscious owner-occupiers, who may be wanting to put something aside for a remodel, a property investment, or other big purchases.
Need an expert hand who can assist you in explaining owner-occupied home loans inAustralia? Your Finance Advisor is here for you.

Your Finance Adviser is a leading and well-known finance advising company in Australia specialized in providing varieties of financial planning services to different types of clients located across Australia. Our team of highly skilled and trained finance broker in Sydney & homeloan brokers in Illawong are experts in guiding people about the eligibility criteria and features of a variety of home loan plans.