Buying a home is a major financial decision. Uniko Capital helps first home buyers, homeowners, investors, refinancers and self-employed Australians understand home loan options before they commit. From Melbourne and South East Victoria to customers across Australia, we discuss residential lending pathways subject to lender criteria.
A suitable home loan is about more than the advertised interest rate. Compare the comparison rate, loan term, repayment type, offset and redraw features, application and ongoing fees, fixed-rate break costs and total repayments. We explain these important points in plain language so you can make a more informed decision.
From Mulgrave and South East Melbourne to Dandenong, Clayton, Springvale, Noble Park and Glen Waverley, our team can help you start a conversation about home loans Melbourne customers can understand. We also assist with enquiries from customers across Victoria and Australia-wide.
We start by understanding your property goal, deposit, income and timeframe. We then discuss the information a lender may require and help you compare important loan terms before you decide whether to proceed.
We discuss the property, purchase price, deposit, intended use and whether the loan is for your home or an investment.
We help you understand the comparison rate, fees, repayments and documents a lender may require before you decide to apply.
For home loan applicants, the lender may consider income, living expenses, existing commitments, credit history, deposit, property value and intended use. For self-employed applicants, the lender may also review ABN history, tax returns, business performance, cash flow and supporting financial documents.
Review the interest rate, comparison rate, fees, loan term, repayment type, offset, redraw and fixed-rate break costs before accepting an offer.
Have identification, income evidence, bank statements, existing liabilities, deposit evidence and property details ready for lender assessment.
Budget for loan repayments as well as rates, insurance, maintenance, utilities and other ongoing property costs.
Home loans can be structured differently for owner-occupiers, investors, refinancers and construction projects. We can discuss eligible residential property finance for first home buyers, families, investors, tradies, professionals and self-employed Australians, subject to lender policy.
First home buyers may also wish to check the Australian Government 5% Deposit Scheme and Victorian first home buyer support. Deposit, LVR, LMI, income limits, property price caps and participating lender rules can change, so confirm current eligibility before relying on a scheme.
A home loan is money borrowed to buy, build or refinance residential property. The property is generally used as security and the borrower repays the loan under the lender contract.
A fixed rate can make budgeting easier for a set period, while a variable rate may offer more flexibility but can change. A split loan combines fixed and variable portions. Compare features, fees and break costs.
A comparison rate combines the advertised interest rate with most standard fees for a representative loan amount and term. It can help compare similar loans but does not show which loan is suitable for you.
There is no single deposit amount for every Australian home loan. A larger deposit can reduce the amount borrowed and may help avoid LMI, while the lender will also assess income, expenses, property value and credit history.
Self-employed applicants may be able to apply, subject to lender policy and serviceability assessment. Lenders may ask for ABN history, tax returns, BAS, business financials, bank statements or other income evidence.
Refinancing may be available if a lender is satisfied with your income, expenses, property value, credit history and repayment capacity. Check discharge, application, valuation and fixed-rate break costs.
Common documents include identification, income evidence, bank statements, liabilities, living expenses, deposit evidence and property information. Self-employed applicants may need additional business and tax documents.
LVR is the loan amount compared with the lender value of the property. If LVR is above 80%, LMI may apply. LMI protects the lender, not the borrower, unless a relevant guarantee or policy applies.
It is a government guarantee program that may help eligible home buyers purchase with a smaller deposit and avoid LMI. Eligibility, income limits, property price caps, places and lenders can change.
Contact your lender hardship team as soon as possible and explain your circumstances. Do not wait for arrears to build up. Free external dispute resolution may be available through AFCA, subject to its rules.