First Home Buyers

Buying your first home can be both an overwhelming and joyous experience.

And there’s no doubt that it will most likely be the biggest financial transaction you’ll make in your lifetime.

So it makes sense to get advice from someone who has your best interests at heart… and not the bank’s.

And it makes sense to use a trusted mortgage broker who will help maximise opportunity through careful consideration and strategic planning, who can guide, advise, handhold and nurture you through your journey… a property expert with the knowledge and expertise to find the right home loan for your unique needs.

Formalising your loan

Which loan is right for me?


With hundreds of different home loan products on the market today, it’s little wonder many people feel overwhelmed.

Here at Shore, our trusted brokers will expose you to over 30 different lenders, so you’re not held to ransom with one particular product or lender, nor do you have to jump through hoops…

… blindfolded.

Passion for people...and property

Variable Rate Home Loan


Variable home loans start with a lower interest rate, and after a fixed time, the rate fluctuates according to the market index, as set by the Reserve Bank. It means that interest rates move up or down with the market and your repayments are subject to change.

Pros
  • You can make extra repayments – Extra repayments are allowed at no extra cost, which can save you interest and help you pay off your loan sooner.
  • More features – Variable loans often have attractive features such as unlimited redraws on any additional repayments or the ability to save on interest by setting up an offset account.
  • Easier to switch loans – It is usually easier and cheaper to switch loans if you find a better deal elsewhere.
  • Smaller repayments – If interest rates drop, repayments also decrease.

Cons

  • Makes budgeting harder – It can be difficult to budget with certainty as loan repayments can increase when interest rates change.
  • Mortgage stress – If you aren’t prepared for a rate rise you may have trouble keeping up with repayments.
  • Larger repayments – If interest rates rise, repayments also increase.
Right time to refinance

Fixed Rate Home Loan


A fixed rate home loan means your loan repayments will be charged at the same interest rate for the duration of your fixed rate period, which is commonly between one and five years.

Pros

  • Makes budgeting easier – You know exactly what your repayments will be, so you can plan ahead and set financial goals with confidence.
  • Rate rises won’t affect you – If interest rates rise above your fixed rate, you will be happy knowing you are paying less than the variable rate.

Cons

  • Rate drops won’t apply to you – You won’t benefit from a drop in interest rates if your fixed rate is more than the variable rate.
  • Limits on extra repayments – Additional loan repayments are often not allowed with fixed rate loans or repayments may be capped at a low amount or only permitted with a fee.
  • Unable to redraw.
  • Break fees – You may incur a fee if you change or pay off your loan within the fixed rate period.

Split Rate Home Loan


A split rate home loan is a popular loan feature that allows you to split your home loan between a variable interest rate and a fixed loan interest rate.

Personal identification

Low Doc Home Loan


Low Documentation home loans are for potential borrowers who are self-employed or small business owners and don’t have access to the documents required to obtain a traditional mortgage.

Usually these borrowers have no PAYG payslip records or cannot provide financial statements and tax returns.

Get in touch with Shore Financial today and maximise your opportunity through property!


  • Levels 3 & 4, 153 Walker Street
    North Sydney, 2060

  • 1300 416 700

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