Fox Symes Line of Credit Home Loan
Are You Financially Stuck Right Now?
There are times in life when situations arise that require money. You could get a flat tyre (or 3) on your way back from work, your boiler could spring a leak, or your upstairs window could get smashed by the darling kiddies next door and their over zealous soccer skills.
As a homeowner there isn’t always the spare cash laying around to deal with such occurrences.
So what are your options?
You could borrow from friends and family, but if that’s not possible where do you turn? A credit card or personal loan? As a homeowner already committed to a major debt do you really want another monthly bill hanging around your neck? Could you even afford one?
Thank goodness that some bright spark thought up the line of credit home loan. A fantastic product offered by Fox Symes that promises to be there for you when you need it most.
What is a Line of Credit Loan?
A line of credit is a product that allows you to borrow and repay as you need to. Unlike a standard home loan where you borrow a sum of money and then pay it back over time, a line of credit home loan lets you pay off the debt one month, and borrow some of it back the next.
It works in a similar way to a credit card where you’re given a maximum amount to borrow, and can keep dipping in and out of the credit as you wish. The only real issue with taking a home loan of this type is that it will take a vast amount more time for you to pay the loan off.
The more you borrow back, the longer it will take to pay off. It’s important for you to know that with a line of credit loan interest will be accruing all the time. So what you pay back overall will be considerably more than you would have done with a standard home loan.
Perfect For Emergencies
As long you only use the redraw facility in times of absolute desperation you shouldn’t find yourself spending too much more than you should be. It certainly works out cheaper than spending money on a credit card where the interest rates are almost always considerably higher.
By taking a Fox Symes Line of Credit Home Loan you’ll have the ability to make extra repayments and re-draws without having to pay any extra in fees, you’ll also have the opportunity to make interest only payments, will be able to port the loan should you decide to move property, and can borrow up to 95% of your property value in some cases.
Being a subsidiary of the FSA Group LTD means that Fox Symes is a name you can trust. Also being a non-bank lender, you’ll find the rates offered are much better value than what you’d find on the High Street.
If you want a home loan that gives you the facility to borrow money in times of crisis, then a Fox Symes Line of Credit Home Loan could be your best value solution.
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
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 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
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 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
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 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
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