Home loan: All you need to know before requesting one

Before we start to explain what we at Secubond can offer you, we want you to look at the different types of Home loans and get a better understanding of each one.

Here’s a list of different types of Home Loans, remember every kind of home loan is intended for a man’s particular needs. Attempt to discover which one will offer you a lower loan cost, as well as long term security.

 

  • Tracker Mortgages – loans are directly linked to an interest rate, will change constantly with the market.
  • Standard Adjustable Mortgages – Interest rate varies with the financial market and a % set by your lender.
  • Fixed Rate Mortgages – Interest rate is set from the beginning and doesn’t change.
  • Discount Rate Variable Mortgage – Interest rate varies with the financial market and a % set by your lender but offering a lower rate for the first few years.
  • Offset Mortgages – It links a savings account to your mortgage which makes your interest rate lower because you only pay the difference.

Our services as Bond Originators

Our services entails the following:

Secubond will present your application to the greater part of the banks to enable you to get the best financing cost and arrangement. In the event that your loan fee won’t be agreeable to you, we will consult with the banks for your sake (incl your own bank where you bank).

Benefits of using our service:

  • We will collect all documentation from clients
  • Spare customers a lot of time by not standing in a queue with each organization and wait for a consultant to assist
  • Send applications with the press of a button to the various banks simultaneously
  • Finish application and submit to the different banks
  • Follow up with the banks on a regular basis
  • We have associations with senior administration levels at each bank to help fast track your application or to arrange for a better deal (should the need emerge)
  • We look over the registration process extensively to ensure that your registration runs smoothly and that you get the results that you deserve.

Choose the bank that suits you

Each bank have different offers and you have to think long term if you don’t want to risk finding yourself in an ugly situation. For that, you will need to understand what are they offering to you. Here is a few issues that you need to pay attention to:

Each bank have different offers and you have to think long term if you don’t want to risk finding yourself in an ugly situation. For that, you will need to understand what they are offering to you. These are some of the issues that you need to pay attention to:

  • Interest rate:   This will change depending on the bank and on your credit score (the more they trust you, the lower it will be).
  • Prepayment penalties:  Sometimes you need to pay a fee if you want to pay off your loan early.
  • Extra fees:  Always calculate the fees included in the home-buying process, such as the mortgage closing costs and the fees of the staff involved.
  • Rush:   You really need to know what you are getting into, so take your time to read carefully.

Submit your final application

At this time, you will probably already dream about moving in your new home, but try to be practical and solve the issue at hand by closing your mortgage deal. You are very likely to be accompanied during this process by the lending company, but nevertheless it’s probably going to be a stressful moment, given that getting a mortgage isn’t something we do everyday.  Just be patient and let us at Secubond help you with your application.

By understanding the different types of home loans and how they work, will educate you to get the best deal on your bond..

Sorry, comments are closed for this post.