Collins Securities First Home Buyer Low Deposit

Collins Securities is one of those lenders who will allow you to put your first home owners grant money up as part of the deposit for your first home. Many lenders do not allow this to occur as they prefer to see a pattern of lending taking place over a reasonably long period of time. They believe this demonstrates a certain financial discipline and therefore refuse to accept anything but savings in the deposit you lodge with them. A Collins Securities First Home Buyer Low Deposit home loan does even more than just allow you to use your first home owners grant money as part of your deposit on your first home, they will also accept gifts made to you from third parties, most often parents in order to make up the required amount. This relaxation from traditional policy makes a lot of difference when it comes to when you are able to afford to buy your first home. It is also a home loan that is a flexible long-term variable interest mortgage that accepts extra payments to be made when you have the money available as well as a redraw facility that allows you to redraw those extra deposits if you should happen to need them in the future.

The First Home Buyer Loan Features

The main features of a Collins Securities First Home Buyer Low Deposit mortgage includes such things as the capitalization of Lenders Mortgage Insurance (LMI) and the fact that it is available to all first home buyers Australia wide. Standard residential first mortgage security is accepted over the full maximum term of 30 years or less if that is what you prefer. There is a minimum loan amount of $50,000 that can be applied for and you can still access the loan for properties valued up to $750,000. The maximum loan to value ratio (LVR) for a Collins Securities first home buyer low deposit home loan is 95%, a factor that makes it a great home loan for individuals, the self employed, even companies and trusts, who want to purchase a home or indeed construct a new home.

Collins Securities First Home Buyers Low Deposit home loan management

Management of your Collins Securities first home buyers low deposit mortgage is made easy for you through an online account management system. This allows for easy redrawing when required. Repayments are made by paying off both interest and principal at the same time each month although additional payments can be made into the account at any time.

Collins Securities First Home Buyer Low Deposit Home Loan fees

There are no fees to pay for any online redraw being made, nor is there any annual fee or establishment fee to worry about and the home valuation and legal fees are included in the application fee. There is only the one fee that you will have to find first up and that is an application fee of $600 although there may be an early repayment fee if you wish to pay the loan off sooner than originally contracted for.

How to apply for your Collins Securities First Home Buyer Low Deposit Home Loan

The easiest way to apply for the mortgage is to do so online. The online application form has been especially designed for ease of use by online home buyers, as it can be saved to your desktop if need be, or you can log into it at the Collins Securities web site whenever you wish. However you will need the latest version of Adobe Acrobat when doing so. Once your application has been received you will be contacted by a Collins Securities relationship manager who will discuss your needs and personal details with you to ascertain if there is any additional information required.

A Collins Securities First Home Buyer Low Deposit mortgage can help you get into your home loan much sooner than you realize, especially if the putting together of a sufficient deposit is what has been holding you back. The payment of an establishment fee which includes valuation and legal costs is all that has to be met up front and when you add the first home owners grant and, depending on which state or territory your first home is located, any other grants that you may find you are entitled to, as well as any assistance that may be forthcoming from your family to help you on your way, you could be a happy and contented home owner in no time.

A Collins Securities First Home Buyer Low Deposit home loan gives you the advantage of low cost borrowing because it doesn’t have the high overhead costs than hold other lenders back. These savings are passed onto the home buyer in the way of less fees and lower interest.

Read the Collins Securities First Home Buyer Low Deposit terms and conditions.

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