I’m delighted to introduce you to an exciting new home loan product. The Equity Finance Mortgage (EFM®), together with a traditional variable loan, may enable you to:
• Reduce monthly home loan repayments
• Increase your borrowing capacity
Here’s how: You can borrow up to 20% of the property value as an EFM, and up to 75% of the property’s value as a traditional loan. On the EFM portion of the loan, no interest is payable (unless you are in default) and no repayments are required for the life of the loan.
Instead, when you sell the property or repay the EFM, you repay the EFM amount you originally borrowed plus a share of any increase in the value of the property. If the value of the property happens to decrease, you may not have to repay the full EFM loan amount. In both cases you will have had use of the EFM funds interest free for the life of the EFM, provided you at no time go into default of the loan.
I’m sure you can see the immediate advantages and the wide range of applications that this product provides enabling you to:
• get out of the renting cycle and into home ownership
• buy a more desirable house in the suburb you want
• buy a house instead of an apartment, 3 bedrooms instead of two
• have a lifestyle and a home loan, particularly when the family is growing
• refinance and take some pressure off repayments to use for other purposes
The above is just a quick an overview of the product, but it is best explained in person.
If you wish to discuss this or any of our other product offerings, please contact me on 4227 5511 or paul@ipshomeloans.com.au
Fees, charges, terms, conditions and lending criteria apply. We recommended you read the EFM® Product Disclosure Document available from one of our offices.
® Equity Finance Mortgage (EFM) and EFM are registered trade marks of ARES Capital Management Pty Limited ABN 93 113 861 046.
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