Types of Home Loans

Oracle Home Loans offers a range of products, to suit individual client needs:

Variable

Flexibility with repayments and redraw

  • Make additional repayments at anytime through
    • Direct credit
    • Direct Debit
    • BPay
    • Salary credit
  • Increase Repayments
  • Reduce minimum repayments if in advance on loans
  • Redraw available funds at anytime Multiple splits available
    • Differentiate loan purposes
      • House
      • Car
      • Shares
      • Investment property
      • Business loan
    • Separate tax effective from non-tax effective debt
  • Option of interest only repayments

Have control over your loan to reduce interest as soon as possible with the flexibility of being able to redraw your extra payments if the funds are needed.


Fixed

Security of knowing your repayments

  • Set your repayments for piece of mind
    • All or part of the loan can be fixed
    • Multiple splits mean you can have several fixed loan terms
  • Pick your rate and your repayment and know you don’t need to pay any more than that for the term you nominate, 1, 2, 3, 4 or 5 years.
  • Option of interest only repayments

Great for those concerned about repayments in the near future. Lock in your repayments today and book a review six months before expiry.


Split Loans

Split loans enable you to split your loan for any purpose.

They are flexible and enable you to have up to four separate accounts for any purpose.

For example, Split between:

  • Business—debt / Personal debt—get separate statements to help keep your accountant and the taxman happier
  • Variable rate / Fixed rate / Line of Credit—keep some flexibility while protecting against possible rate rises
  • His loan / Her loan / Car loan / Other—separate debt for any reason you think is worthwhile.

With split loans you:

  1. receive separate statements for each split, which makes managing your accounts easier
  2. can easily separate tax effective borrowings from non—tax effective borrowings
  3. you gain maximum flexibility
  4. option of separate accounts for separate portions.

Line of Credit

Run your business or your life through your home loan

  • Multiple splits available
    • Differentiate loan purposes
      • House
      • Car
      • Shares
      • Investment property
      • Business loan
    • Separate tax effective from non-tax effective debt
  • Make additional repayments at anytime through
    • Direct credit
    • Direct Debit
    • BPay
    • Salary credit
  • Increase Repayments
  • Reduce minimum repayments if in advance on loans
  • Redraw available funds at anytime
  • Cheque book access
  • Transfer available credits between loan splits
  • Option of interest only repayments

Lo Doc

This type of loan does not require financial information to be verified. It lets you borrow today even if your last 2 years financials have not been completed.

Conditions apply.


Credit Impairmed/Non—conforming

This type of loan is for those who have difficulty securing a loan. Oracle Home Loans can help.

Our credit impaired/non—conforming home loans are available to those who have experienced past problems with finances, have a poor credit history, or who do not qualify for a mainstream home loan.


Small Business Product

Recognising the unique needs of small business, Oracle Home Loans offers a small business product that combines the necessary features to help a business run smoothly and grow:

  • LOC to work as overdraft at home loan rates
  • split facility to keep your personal debt separate from the business
  • new business loan connected directly to existing business account
  • option to transfer available cash between personal and business debt
  • full range of repayment options.

All In One

This all encompassing loan product offers access to variable and fixed interest rates, split loans, line of credit, Lo Doc and small business features.


Repayment Options

Oracle Home Loans offers a range of repayment options for your home loan, including:

  • Salary credit
  • B—Pay
  • Internet transfer
  • Direct debit from a nominated account
  • Monthly/fortnightly/weekly repayments
  • Principle and interest

Together we discuss these options when helping you select the type of loan that will best work for you.