What our customers say about us

Thanks for all your help and for making it so easy for me. Life will be so different now.

Jan Vincent
Montrose, VICTORIA

Thank you for your time on the phone yesterday and copying me into the below email.
I just wanted to take the time to say that I have never seen such a comprehensive email provided to clients by a Broker before. Very clear and detailed.
I hope it’s ok that I hold onto your details to refer to clients who may need assistance.
Kind Regards,

Shannon Oatley
Director & Licensed Conveyancer
Property Conveyancing Group, VICTORIA

We have found Barry Le Brocq of Melbourne Mortgage Finance to be very patient, caring and diligent in achieving a successful outcome to our refinancing requirement. We have no hesitation in recommending his services to others.

Don & Christine Perrett
Leongatha, VICTORIA

Many thanks Barry for the exceptional service that you have provided. We will most certainly be recommending you to our daughter (Bank of Melbourne branch manager) for any future customers who need a reverse mortgage loan.

Paul & Barb Spark
Somerville VICTORIA




Posts Tagged ‘interest only’

How can an Equity Access Loan be used?

Equity Access Loans can be used in a variety of ways including:

  • Purchasing a home

    This is not common as the interest rate on Equity Access Loans is generally higher than on normal home loans. It is also an “interest only” facility with no built-in structure to reduce the debt long-term.

  • General or consumer purposes

    Interest rates on Equity Access Loans are much lower than personal loans or credit cards. Many borrowers establish an Equity Access Loan for the purchase of general non tax-deductable goods such as household items, travel, clearing other personal debt, purchase of vehicles etc.

  • Investment purposes

    such as paying the 10% deposit on an investment property, or purchasing a property or shares. The Equity Access Loan must have a different account number to your normal home loan account so it can be operated separately for tax reasons.

  • Business purposes

    if permitted by the lender. The Equity Access Loan must have a separate account number for tax reasons.

Are regular monthly payments required on Equity Access Loans?

An Equity Access Loan is an “interest onlyline of credit. As such, regular monthly interest payments are technically not required if your loan balance is below the approved credit limit. It is not recommended that you use an Equity Access Loan facility indefinitely and continue to make no monthly interest payments. Interest payments should be made each month to prevent the loan balance continuing to increase. If your Equity Access Loan is used for personal consumer purposes, you should endeavour to reduce the loan balance whenever possible.

Melbourne Mortgage Finance offers an extensive range of mortgage products and services including

Home Loans, Investment Loans, Equity Access Loans, Low Doc Loans, 100% Loans, Refinance Loans, Commercial Loans, Deposit Bonds, Reverse Mortgages, Accommodation Bonds, Vehicle Finance, Plant and Equipment Finance, Financial Planning and Business Finance.

IMMEDIATE appointment can be made to meet at your home or office

  • NO CHARGE for assisting you. We receive a standard fee from the lender you select
  • reliable service, communication and follow-up. See “Testimonials
  • accreditation with 20 national lenders, allowing you to select from an excellent range of loans
  • we carefully listen to your needs, do our research, then present you with a short-list of three potential loan solutions. You choose the lender.
  • printouts of products, fees, interest rate and loan features are provided
  • arrange for your property insurance and personal insurance requirements to be assessed
  • ongoing availability to assist you after loan settlement
  • over 30 years experience in arranging finance and mortgage loans