Liberty is a customer-focussed specialist lender with a range of home loan products for borrowers who may have trouble getting approval from traditional banks. This lender was founded by American Sherman Ma, who saw a need for better specialist lending services in Australia. A relatively new lender, Liberty has already helped more than 210,000 customers with flexible financial products.
Enjoy the flexibility of choosing your repayment schedule
This is a straightforward loan with a competitive rate if you able to put down a high deposit. You can make additional repayments as much as you want and redraw when needed and choose to repay weekly, fortnightly, or monthly. You won’t have to pay any ongoing account fees but this loan does come with a hefty application fee. Also, keep in mind you can only borrow up to $500,000.
A flexible home loan that gets your money working
If you want a flexible loan, Liberty Star will give you more including unlimited splits and a 100% offset facility. Also, your maximum loan amount is three times that of the Liberty Sharp loan product. You’ll get the same useful features to help you control your finances as Liberty Sharp as well, such as additional repayments, redraw, and flexible repayments. You can also take advantage of a fixed rate and rate lock if you want to be able to better budget for your future.
An easy home loan for self-employed borrowers
Liberty was awarded the CANSTAR Outstanding Value Award for a Variable Low Doc Home Loan for their Self-employed loan product. This is a practical option for start-up business owners and who need a little extra support from a lender due to unique circumstances. You can apply with a full doc or low doc loan and use your funding to help establish your business, consolidate debt, or for cash when you need working capital for your business.
Take the plunge with a low deposit home loan
Liberty Financial will let you borrow up to 95% of the property value and still enjoy a full-featured loan with redraw, additional repayments, flexible repayment options, and the option to split your loan. This loan will even work if you don’t have genuine savings to prove, such as if you are getting your deposit as a gift.
Make a fresh start with a hassle-free home loan
Just because you’ve had past financial hiccups, that doesn’t mean you shouldn’t be able to own your own home now. Liberty has a unique Credit History loan product for borrowers with a bad credit history. It does come with high rates and fees but it can offer a much needed second chance for many borrowers.
A debt consolidation loan to help put money back in your pocket
Simplify your debts with this Debt Consolidation loan. You can borrow up to 95% of the purchase price and take advantage of flexible features like redraw and split loans. You can also consolidate your debts into one convenient monthly repayment so you can pay one bill and move on with your life.
Leverage the power of your super with an SMSF loan
This SMSF loan can be used for either residential or commercial investments, helping you get more out of your super and allowing you to make a smart investment for your future. It doesn’t come with a lot of the features of owner-occupier loans but as long as you don’t borrow more than 80% of the purchase price, you can enjoy a competitive variable interest rate.
A tailored loan to help out with life’s little hiccups
Searching for a good no doc loan or a product that can tailor to your very unique circumstances? Liberty Financial has the perfect loan for the borrower who simply doesn’t fit within the typical borrower profile. Enjoy a custom product to suit your needs and income while borrowing up to 95% and still getting all the flexibility features of a typical loan like redraw and additional repayments.
While Liberty Financial may not necessarily position themselves as being ‘easy’ to get a home loan with, they are one of the more flexible options on the Australia market. That is, they make getting a mortgage more accessible to those who may otherwise struggle, such as the self-employed and those with a poor credit history without a large deposit. They also offer low-doc home loans, to make it easier for small business owners who don’t have access to the documents required to obtain a traditional mortgage. Liberty Financial allow you to borrow up to 95% of your property value, which means you would only need to have a deposit of 5%. However, it’s important to remember that more lenience often means higher interest rates. So, it’s best to work with a broker to ensure a home loan with Liberty Financial is the right choice for you.
An interest only home loan is when you only pay the interest charged on the loan during a set period — meaning your principal balance remains the same. This generally mean your repayments will initially be lower, but once your interest-only period finishes you will still need to pay off your loan amount. As you will then have less time to pay off your mortgage, those repayments will then become far higher. Their Liberty Star Home Loan does offer the option to make interest-only repayments. You may also be able to choose an interest-only home loan in one of their custom packages.
Before you apply for a Liberty Financial home loan, you should have a good idea of the price of the property you want to purchase, which mortgage product you’re after and how much you will need to borrow. Working with a mortgage broker is the easiest way to compile all of this information and set yourself up for a successful application. Then, you can apply on their website for an indicative pre-approval amount. At this stage, you will need to provide:
It’s important to note that this is not your official approval, but rather a guide to how much you could borrow. You will then be asked to provide all necessary documentation, including identification and payslips.
You can also start the application process for a Liberty Financial mortgage by contacting them on 13 11 33 or filling out the contact form on their website.