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Line of Credit - Mortgage Reduction ...

How a Revolving Line Of Credit Can Benefit You? …

An approved Line-of-Credit facility is secured against your residential property. Up to 90% of the value of your home is available.

This means you will be able to pay-out your existing mortgage together with all other debt, including, high interest credit cards, car loans, personal loans and store accounts.

Banking made easy …

The facility enables you to direct income from all sources into your loan account and then draw living expenses as and when required. A Visa card is approved with the facility which when used correctly for all living expenses should never attract interest as an automatic sweep from your Line-of-Credit pays the full outstanding balance on due date. This allows a major portion of your income to remain in your loan account longer, saving you interest.

Other advantages of a revolving line of credit …

A line of credit is the loan of choice when adopting a Mortgage Reduction Plan

Easy access to funds:
Eftpos & cheque book convenience

No early payment penalty:
The option of principal repayment is entirely yours. There are no limits on repayments and withdrawals up to your credit limit.

Use of funds:
The purpose of a withdrawal is unquestioned.

Transferable:
Should you decide to upgrade your home the facility is simply transferred to your new property.

Term of Facility:
There is no set term and many Line of Credit facilities run well into retirement as they can also be used for investment purposes.

Investment Opportunities:
Available credit may be used to take advantage of tax effective investment opportunities as they arise.

Tax Savings:
Any funds paid into your line of credit will reduce interest payable. Any saving introduced into your line of credit will effectively earn around 6 to 8% … which is usually the amount of interest saved depending upon your existing loan interest rate. Leaving these funds in your bank savings account may only earn you around 2% … taxable interest.

How Can The Australian Financial Services Directory (AFSD) Help? …

AFSD has teamed up with one of the industry leaders … National Mortgage Brokers P/L nMB to provide you with a complete range of independent financing options and solutions.

National Mortgage Brokers provide:

• A no cost loan service ... Free independent advice to help you find the best refinancing option.
• A complete mortgage fulfilment service including residential and commercial loans;
• A range of 24 lenders and more than 500 product options;
• National coverage throughout Australia by highly qualified and experienced mortgage brokers;