Mortgages are used to purchase new or existing properties. They can also be used to refinance existing property.
We offer both owner occupied loans and investor loans on houses, apartments, commercial property, farms and all other forms of property and land.
A mortgage is a loan that finances the purchase of a property. The property you buy acts as security for the loan.
Generally, before applying for a home loan (or mortgage) you save a deposit. The more you have saved up, the less you need to borrow and the less interest you’ll pay over the life of the loan.
You can then apply for a loan. Once your lender approves the loan in principle, you can begin looking for a property within your budget. After choosing the property you’d like to purchase, you finalise the amount you need to borrow and your lender will prepare your loan documents.
With a home loan (or mortgage), because you offer the property as security, you’ll have access to loans that attract a lower interest rate than other types of other loans. However, if you fall behind on your repayments, the lender has the right to sell your home to get its money back.
There are many different types of mortgages, including: owner-occupied mortgages, investor mortgages, construction loans, interest-only mortgages, mortgages for the self-employed, and non-resident mortgages.
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