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Standard Variable Loan
Standard variable loans are Australia's most popular type of home loan. The interest rate varies throughout the loan term. These loans generally offer excellent flexibility, low fees and often offer great features such as an offset facility, redraw facility, no limits on additional repayments and in most cases, no early pay-out penalties.

Advantages
• Flexibility.
• Lump-sum payments can be made without incurring a penalty.
• If interest rates fall, your repayments will fall.
• Often offer extra features.
Disadvantages
• If interest rates rise your repayments will rise.
Basic Variable Loan
Basic variable loans typically offer lower interest rates and fewer features than the standard variable loans. You often have the option to pay for any additional feature required. Interest rates and repayments will vary throughout the loan term.

Advantages
• Relatively low interest rate.
• Lower repayments.
Disadvantages
• Many of these loans do not have the same features or flexibility as other variable loans.
Introductory Rate 'Honeymoon' Loan
An introductory rate loan generally offers a guaranteed low rate for an initial period of time (usually 12 months) after which most will revert to the standard variable rate. The rate can be fixed or variable.

Advantages
• Usually the lowest rates on the market.
• Some lenders provide offset accounts on these loans.
• Opportunity to reduce the principal quickly during the 'honeymoon' period.
Disadvantages
• Payments will increase after initial introductory/'honeymoon' period.
Fixed Rate Loan
Under a fixed rate loan, the interest rate is fixed for a specified period, usually between one and five years. This loan gives you the certainty of knowing exactly what your monthly repayments will be and peace of mind knowing the repayments won't rise. However you won't benefit if rates go down during the fixed term.

Advantages
• Guaranteed rate, if interest rates rise your repayments won't.
Disadvantages
• Reduced flexibility.
• Extra repayments may incur a fee or be limited.
100% Offset Loan Account
A 100% offset loan is very similar to an all-in-one loan. Rather than putting all your salary and other income into your loan, it goes into an offset account that is directly linked to your home loan. Any balance in the offset account is 100% 'offset' against your home loan. This reduces the amount of interest you have to repay, making your money work harder for you.

Advantages
• Can save you substantial amount of interest if used correctly.
• Operates like a normal transaction account and has a chequebook, ATM card, etc. attached.
Disadvantages
• May have higher monthly fees attached to the account.
• May require a minimum balance in the account.
Reverse Mortgage
Reverse mortgages allow you to borrow cash against the value of your home. You usually don't have to make regular repayments until you leave and move into care, sell your home or die. When the loan ends you, or your estate, must repay what's owing, usually out of the proceeds of the sale of your home.
You are generally eligible for a reverse mortgage if you are 60 years or older and own your own home. You'll usually be able to borrow between 15% and 40% of the value of your home, depending on how old you are - the older you are the more you can borrow.
Each year the fees and interest you would ordinarily pay are added to the loan balance. Over time, you're charged interest on the interest (or compound interest) and that builds up the total amount you owe.

How much a reverse mortgage costs you in the end depends on:
  • How much you borrowed at the start (the principal)
  • How long you have the loan for (the term of the loan)
  • Whether you receive your loan as a lump sum, a regular income stream, or a line of credit (the loan structure)
  • The interest and fees you pay on the loan
  • Whether you borrow any more money
Line of Credit Loan
A line of credit loan provides you with access to the equity in your home or investment properties up to a pre-approved limit. You access the funds as you need to. The interest rate on a line of credit loan is usually a variable rate and repayments are interest only.

Advantages
• You can use the money when you need it and pay it back when you can.
• Rates are generally lower than a personal loan or credit card.
Disadvantages
• Unless care is shown it is possible to reduce the equity you have built in your home.
95% Home Loan
No SAVINGS, NO WORRIES
No savings history is required for your deposit
  • Yes, the First Home Buyers Grant can count as part of your deposit
  • Lo Doc Loans with no proof of income
  • Refinance and even borrow extra, we'll give you up to 95% of the value of your property.
Advantages
• Getting onto the property ladder now.
• Non Genuine savings .
Disadvantages
• Pay higher Interest Rate.
• Reduced flexibility.
• May have higher monthly fees attached to the account.
100% Home Loans No Deposit
For the borrower:
  • No need to save a deposit
  • Save thousands on mortgage insurance costs
  • Available on most home loans purchased for owner occupation
For the guarantor:
  • Only liable for the agreed, guaranteed amount (not the full loan amount).
  • Not liable for scheduled monthly repayments.
  • Can apply to have the guarantee released at any time, subject to the borrower satisfying lenders lending criteria.
Advantages
• You can buy a property now without having to save a deposit.
• Saving $$$$ on Lenders Mortgage Insurance.
Disadvantages
• Having to find a guarantor to guarantor the loan.
• You are limited to certain types of properties.
• As you will borrow all of the loan, you will pay more interest in the long term.
Low-Doc, Credit Impaired Loans & Distressed Debt
A low documentation (or no documentation) loan is suited to investors or self-employed borrowers who do not meet the 'standard' lending criteria. This may include; those with an impaired credit history, those who are unable to provide the required documentation in support of their loan application, or those who wish to borrow more than 100% of the property value.

Advantages
• Simple income declaration form.
• No tax returns.
• No financial statements.
• Can have features such as redraw, line of credit, variable or fixed rates, principal and interest or interest only.
Disadvantages
• Generally a higher interest rate.
Construction Loans
If you are building your own home or investment property, a construction loan may be suitable for you. This loan requires a fixed price building contract from a registered builder. These loans are usually interest only for the period of building and then become principal and interest once building is completed. A construction loan allows you to draw money as is required whilst building. Also, with the usual necessary documents required when applying for a loan, construction loans also require a 'fixed price building contract' and 'council approved plans'.

Advantages
• Competitive variable interest rates.
• Facility to draw money when necessary whilst building.
• Interest only payments during the building period.
• Additional payments can be made.
Disadvantages
• Requires a fixed price building contract leaving little room for change whilst building.
• Some lenders charge a fee for every time you draw money whilst building.
• Given it is a variable loan; loan repayments will increase if interest rates go up.
Equipment Finance Loans
Need a new piece of equipment to get things working more efficiently? We can work just as efficiently to secure the business finance required, without leaving you waiting in queues. It's a fact of life that recent tightening up in the lending criteria of the major lenders has made it even more important to have Bayside Financial Brokers on your side. At Bayside Financial Brokers, our specialist equipment finance consultants know what's required to get your application approved.

Trucks, transport and boats
Earth moving equipment.
Plant and machinery.
Farming and agricultural equipment.
Construction and mining.
Medical and dental equipment.
Commercial Loans
Borrow Up to 85% of the value of commercial properties
Borrow Up to 85% of the value of commercial properties Bayside Financial Brokers is one of Australia's leading facilitators of Commercial Loans for Commercial, Industrial and Retail properties Australia Wide. BFB commercial loans cover the full spectrum of commercial mortgage lending including Full Doc, Lite Doc and No Financial Loans and also lending to specialised securities. Our products aim to be at the forefront of the commercial mortgage lending market. With LVR's up to 85% and with interest rates starting from as low as swaps plus a margin of 1.25% BFB has the commercial mortgage product to cover your commercial mortgage requirements. When you first decide to take up Commercial Finance, you need to consider what you have to offer as security for the loan. Items that you can use to secure a Commercial Finance package are generally property, revenue and equipment.
In Australia, most Commercial Lenders will require up 75% of the value of the loan. You will need to come up with as much as possible to secure the loan. The items you put up to secure the loan will be confiscated by the Commercial Lender should you fail to honour the terms of the loan. You will need to make sure that you have enough revenue generated on a regular basis. This can be weekly, monthly, quarterly and even annually to see if the income is there to support the payments on the Commercial Finance package. We will also look at what your potential growth is for your receivables. Your previous growth history will help them figure that out. They will look at how much is left when you subtract all your account payables, except the loan repayment and it should be greater than 1.45

When you put up property to secure the loan, we will be looking at the equity value of the property first and the total value of the property second. We will also look at the payment history of any property that has not been paid for outright. When we have finished looking at the property you have, we will look at your account receivables.
Mezzanine Finance
Mezzanine funding - Short term lending for the long term benefit.
Bayside Financial Brokers can arrange mezzanine funding for both construction and property investment loans tailored to the requirement of the project. Mezzanine funding is typically sourced from specialist financiers and private investors bearing a fixed interest rate. Mezzanine funding is typically used in situations where the borrower has insufficient equity to fund the project, or requires additional funding to complete a project. In short Mezzanine funding is utilised in situations where the client requires additional funding beyond the means of traditional facilities.
Mezzanine finance up to 80% of the end value of the project - Loan Amounts up to $50M - Interest Rates start at 15.00% to around 25% pa Equity Finance (Joint Venture Finance) Bayside Financial Brokers can arrange equity participation in acceptable projects.
Equity finance is typically a joint venture where up to 100% of project costs are covered of land subdivisions and development projects. Equity finance is typically secured by a second mortgage position, or by taking a direct equity position in the project.

Since there is a lot of risk involved for the lender, or investor the interest rate is much higher than a regular loan. The main purpose of this financing is to give a business the opportunity to get the capital they need much quicker while they wait to get a bank loan, or while they get their financing in order to improve chances of getting approved for a loan.
Deposit Bonds
Deposit Bonds allows you to purchase a home or invest in property without having to provide the deposit in cash. A Deposit Bond Guarantee is a subsitute for the cash deposit required when purchasing a residential property - you simply pay the full purchase price at settlement. Both short and long term guarantees are offered to suit any settlement terms.
They can be either short term or long term,

Short Term
Short Term Guarantees - are available for purchases where the settlement terms are up to 6 months. Short term guarantees are issued subject to issuing guidelines. Purchasers need to provide evidence they have sufficient funds available to complete the purchase.

Long Term
Long Term Guarantees - are available for purchases where the settlement terms are between six and 48 months. These can be arranged for applicants who own existing residential property and demonstrate the ability to complete the purchase.
There is a charge associated with this normally its around 1.2% of the 10% deposit required
Personal Loans
If your goal is to upgrade your car, take your dream holiday or ask the love of your life to marry you there is no need to wait. Whatever your goal is speak to Bayside Financial Brokers and we could help you make it happen.
Stay in control with an interest rate and repayment amount that doesn't change. They're fixed for the life of the loan, so you'll always know exactly what your repayments will be.Choose a loan term and repayment frequency that best suits you. You can have weekly, fortnightly or monthly repayments over a period of two to seven years - whatever suits your budget. To make life easier, you can also set up your loan repayment as a direct debit to occur one day after you're paid.

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Mortgage Calculators
Types of Loans
First Home Buyers
Why Use A Broker
loantypes
Standard Variable Loan
Basic Variable Loan
Fixed Rate Loan
Introductory Rate Loan
Reverse Mortgage Loan
Line of Credit
95% Home Loan
100% Home Loans
Low-Doc Loan
Deposit Bond
Personal Loan
Credit Impaired Loan
Distressed Debt Loan
Construction Loan
Commercial Loan
Mezzanine Loan
Equipment Loan

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