In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Purpose
The purpose of a loan can help determine the loan product that best suits the borrowers requirements and objectives.
Purposes can include a new purchase for an owner occupier or investment property, refinancing an existing home loan, debt consolidation, cash out for things like a deposit towards a new purchase or maybe nonstructural renovations, can also include construction.
The lenders will have different interest rates, maximum loan amounts and repayment schedules depending on what the loan purpose is.
Lenders expect you to reveal your loan purpose in order to provide them with the information they need to make a thorough assessment of whether the loan is acceptable for you and, as a result, meet the responsible lending duties.
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