So much jargon, so many terms, what does it all mean?!

The financial services industry has created a lot of phrases, terms and jargon around the types of products available. But what do they all mean? What's "Alt Doc"? Are honeymoon loans for after you get married? Here are few common terms used, but feel free to speak to Your Loan Solutions about all the options available and what they mean. 

Bridging Loans
Bridging Loans enable the purchase of a new property before the existing one is sold.
Buying in Company / Trust Name
Purchasing an investment property in your company or trust name.
Buying Your Next Home
Up-sizing, downsizing or just looking for a change of scene? Use your equity to access additional funds to purchase a new home before you sell.
First Home Buyer Loan
Government grants are available to Australians who are buying or building their first home. The Grant varies by States and Territories.
Fixed Home Loans

An interest rate set for an agreed term regardless of any variations in the market.

Honeymoon Loans
Honeymoon rate, or introductory rate, home loans offer a low interest rate for an introductory period, usually the first 1-3 years of the loan. Once the honeymoon or introductory period ends, the interest rate usually reverts to a higher rate.
Interest Only Home Loans
This is where you only pay the interest on the loan. It is popular with investment properties for tax benefits.
Invest in Residential / Commercial Properties
Build up your property portfolio by purchasing residential or commercial property.
Land & Construction Loans
If you’re buying the land, you may want to consider splitting the loan into a “land loan” and “construction loan”, which means that they’ll be advanced at different times.
Line of Credit
This loan lets you free up the equity you have in your home for other purposes. It provides you with a revolving line of credit.
Loans to Renovate
These are special loans for renovation projects, large or small.
Low Credit Score Loans
Perfect for Australians who are just outside of a bank’s lending criteria.
Low Deposit Home Loans
You may be able to purchase a property with low or no deposit if someone – typically your parents – is willing to act as a guarantor.
Low Doc / Alt Doc Loans
These are a flexible financing solution for self-employed people who have income and assets, but may not have the usual paperwork at the time of application.
Offset Mortgages
An account linked to a mortgage account so that the interest earned is applied to reduce the interest on the mortgage.
Re-draw Products
This allows you to access any additional payments you have made on your mortgage.
Re-financing

Re-financing your home loan to obtain a better interest term and rate.

SMSF Loans
Investing in property with your retirement funds.
Variable Home Loans

The interest rate varies as market interest rates change OR  variable rates go up and down as interest rates rise and fall.

Other types of Mortgages

Personal loans, car and equipment finance, reverse mortgage etc. 

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