At Build Wealth Finance we don’t want to see you struggling with debt, so we will always go out of our way to show you how to pay off your debts, without having to change the way you live or go about your business. Some of this information is common sense and a lot of it is years of experience within the industry. All we ask is that if you are happy with the way we do business, we want you to tell your friends, work colleagues and family. Contact us today to discuss how you can restructure your finances in a way to save you money and stress!
Please note we cater for Full doc/PAYG borrowers and our self-employed borrowers that don’t have the update to date financials under Low Doc Loan options.
This is the most common product on the Home Loan market. The name varies dependent on the lender, but the product is known in the market as the ‘bells and whistles’ product.
It may include redrawing facilities, direct salary crediting, an offset account, and can have different payment frequencies. A Professional Package is normally a standard variable rate loan with a discounting of the loan rate dependent on what the loan amount is. The discount generally increases as the loan size increases, and most lenders will charge a fee for the discount. As we have been in the industry for a long time, we also get to negotiate with lenders for even further discounts and have product availability that others don’t.
A Professional Package is not always the way to go just to get a discounted rate. If the loan size is small, a professional package could cost more in annual fees. Also most Professional Packages do not discount until the loan amount is over $150,000.
As its name suggests, tends to be a loan with limited features. The loan is usually cheaper than standard variable rates, but may not be as cheap as a professional package.
Fixed rates are exactly that, fixing a loan reduces interest rate volatility but is always done with caution as there are hefty penalties if you try to break the rate before expiry. There is the option to fix just a portion of the whole loan amount.
This loan type allows you to continually utilise funds up to a set limit. With lines of credit you are not obliged to make set repayments, and in some instances, it allows for instant capitalisation.
Most investors prefer interest-only loans as it allows them to take full tax benefits without reducing any principal. The terms range from 1-10 years. Only interest is due during the loan period, however most lenders will allow lump-sum reductions.
Some investors will fix to enable them to budget with their rental income. Once again caution is most important.
There are many varied facilities within the commercial realm of lending, the most common being:
If the loan is predominantly for a purchase of a commercial premises or asset, or for a refinance of these items, term loans are predominantly used by lenders. The terms range normally up to 15 years, with some lenders offering higher terms. Predominantly these loans start initially as interest only for the first five years, then the business is expected to reduce the principal after this period.
Development funding can be very fickle and it really depends on the overall project. We prefer to get as much information as possible and then take it to our panel of lenders and get back to you with terms and conditions of what they are prepared to do.
At present lenders are happy to look at projects, but this can change very quickly if they believe they have too many projects in one specific area.
Just like all fixed rate loans they have both pros and cons. Once again be cautious with fixing all of a commercial loan for the same reasons you would a residential loan. If your circumstances change and you need to break the loan, the costs can be very substantial.
This funding is done by a lender paying you when you issue an invoice to a debtor. The funding is at a specified rate which allows you to free up funds to concentrate on running your business.
This is becoming very popular for people who are looking at other alternatives than the share market to invest for their self- managed superannuation. Residential & commercial property purchases can be funded against. We invite you to contact us before you make the purchase as there are many guidelines that must be satisfied before funding is approved.
Many clients utilise our services for Car finance, whether it be Commercial Hire Purchase, Leasing, Novated Lease, Chattel Mortgage, Low Doc Leasing & Hire Purchase, Credit impaired/bad CRAA Leasing & Hire Purchase and Consumer Finance. We have satisfied many clients with competitive rates and terms. We can finance Prime Movers through to sedans, so please contact us for a competitive rate.
Rather than using cash to pay for asset purchases within a business, asset finance is a great alternative. From computer equipment through to large industrial equipment, contact us for a competitive rate.
We offer a range of advice services to cater to the broad needs of individuals and business owners in various stages, as well as strategies that focus on the important single life events that impact your financial well-being or that of your business. This may mean your adviser can provide you with advice on an immediate need like finding an appropriate investment for a lump sum inheritance or redundancy payment, or arranging new or additional insurance on the birth of a child, to more long-term strategies such as rethinking your overall position in relation to your future retirement plans or business considerations.