Collins Securities is a team of mortgage specialists, serving customers across Australia. Taking a solutions-oriented approach, Collins is able to find competitive low doc loans, investment loans, as well as full featured loans and home loan packages. Having been in the business for over 20 years, Collins is able to offer excellent features and to help you get an affordable home loan that’s suitable for your circumstances.
Access to a variety of lenders
Expert advice from a mortgage broker
Options for self-employed and credit impaired borrowers
Some loans have high rates
High fees on some loans
No branch access
Choose a fixed rate home loan product that suits your financial priorities. You can enjoy the peace of mind of fixed repayments for one to five years, and then refix to the current market rate or convert to a variable interest loan. Keep in mind, you’ll have less flexibility than with a variable loan, such as limited early repayments and no interest only repayment option.
Ideal for residential investors, this type of home loan lets you pay interest only for a set period. Once the interest-only period ends, repayments do increase abruptly. Then, the remainder of the loan will consist of interest and principle repayments.
Some lenders will offer a low introductory rate to attract qualified borrowers. With a lower rate for a short time period, usually the first year of the loan, you can pay down your principle quickly with the reduced interest charged. This type of product is also ideal if you have a limited budget to start with.
With a line of credit home loan, you’ll be able to access funds when you need them during the life of your mortgage. This means when you have plenty of equity built up in your property, you’ll have the option to invest in a renovation project, make a residential investment, or meet other financial goals using your line of credit. This option comes with a great amount of flexibility but it also will have a higher rate than most standard variable rate loans.
If you are self-employed and simply don’t have the required two years’ worth of financials that are necessary for a full doc loan, you’ll need to apply for a low doc home loan. Lenders will have different criteria and you still may have access to great features to give you plenty of control over how you pay down your loan, like redraw and additional repayments. Low-doc loans do have higher rates.
For borrowers with credit impairment, non-conforming loans offered by specialist lenders are the solution. Collins has plenty of experience working with a variety of non-conforming lenders. You’ll pay a higher interest rate however and many non-conforming loan products also come with high fees.
There are both basic variable loans, which tend to have low rates and simplified features, and standard variable rates, which are usually still very competitive. A standard variable home loan will come with extra features to help you pay down your mortgage faster, like no penalty for extra repayments and an offset account, which you can use to reduce your overall interest. The rate will fluctuate with the official interest rate set by the RBA.