Collins Securities 1 year Fixed Rate

The fixed interest rate home loan is fast gaining in popularity as home buyers seek surety as to their future repayments, especially when it is felt that interest rates are more likely to rise rather than fall. In the past fixed interest rate home loans were rather basic with few features but many lenders are now offering add-ons that go close to matching that of their variable interest rate home loans. An attraction of the Collins Securities 1 year fixed rate home loan is that it is available with 95% loan to value ratio (LVR) and additional monies are accepted to help make up the required deposit.

Many lenders will only accept a deposit that has been saved over a reasonable period of time, claiming that this demonstrates a certain financial discipline illustrating that the potential borrower who can put money aside regularly and not spend it will be most unlikely to default. This requirement forces the home buyer to have to save for much longer whereby that same money could be paying off an actual house if other monies could have been added. A Collins Securities 1 year fixed rate home loan will accept other monies added to the deposit in order to make up the full amount required to purchase the home. These extra funds could come from parents or relatives wanting to give you a good start, even from government grants if you find yourself eligible.

You will not have to take the first 12 months of your Collins Securities 1 year fixed rate home loan at a fixed rate, if that is not what you want. The 1 year fixed period can be taken at any time during the life of the loan as long as the conditions at the time allow for it to occur and the product is available at that time.

Collins Securities 1 Year Fixed Rate mortgage features include the following:

• A variable interest rate and principal repayment when the fixed interest rate is not in operation. When it is, the fixed interest rate repayment will include with it a payment off the principal.
• Loan mortgage insurance (LMI) capitalization is allowed.
• The loan is available Australia wide to all who are approved, under the same terms and conditions no matter where the property is located.
• Standard residential first mortgage security is all that is required.
• The loan can be taken out over a maximum period of 30 years.
• While the minimum amount of loan is $10,000 you can access up to $1,000,000 if that is what is required, keeping in mind that the loan to value ratio (LVR) is 95%.

These features make a Collins Securities 1 year fixed rate home loan an ideal loan for individuals, self employed, companies or trusts to use for the purposes of purchasing a home or constructing a new home for yourself or family, with the assurance that if you feel that interest rates are to rise you have a 1 year fixed interest rate period up your sleeve to help ride out the storm.

Collins Securities 1 Year Fixed Rate home loan management

The management features included in your 1 year fixed rate mortgage include the following:

• An online account whereby you can manage your own transactions 24 hours a day seven days a week from your own computer at home or at work. Even when you go on holidays.
• You will be able to deposit additional funds into your loan account whenever you have the money available.
• Redraw facilities allow you to redraw the extra money that has been paid into the account when the need arises.
• Collins Securities 1 year fixed rate home loan repayment are all repaid on a monthly basis.

Fees and charges

There are no early repayment fees to pay if you find yourself in the position to pay the loan out earlier than that agreed to in the contract.

There are other fees however and these are as follows:

• There is an application fee of $600 as well as an establishment fee. However valuation and legal fees are included in the application fee.
• There is also an annual fee of $275, as well as a,
• Progress Inspection fee of $250.

Application

Application is best made online where you can download the application form and when completed email it back to Collins Securities. The application form can be saved to your desktop or linked onto in the Collins Securities website whenever it is convenient for you to do so. You will require the latest version of Adobe Acrobat.

Further information on making application can also be opened on the website on the ‘news articles’ page under the title of ‘What lenders look for in an application’.

A Collins Securities 1 year Fixed Rate mortgage relationship manager will contact you after your application is received in order to work through any additional information that may be required.

A Collins Securities 1 year fixed rate mortgage will give you the peace of mind of knowing that your repayments will remain the same for at least 12 months, while you are becoming established and settling into your new home.

Read the Collins Fixed Rate Home Loan - 1 Year Fixed Rate terms and conditions.

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