Homeloans Ltd Home Loans

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Homeloans Ltd Home Loans - Mortgage Lender

The Company was originally founded by Tim Holmes and Rob Salmon in 1985. Both are still active directors and major stakeholders today. Previously named International Financing and Investment (IF&I), the company originated mortgages for RESI Building Society, which later was to become The Bank of Melbourne.

In late 1993, after the Bank of Melbourne had established its own presence in WA, IF&I formed a similar alliance with Adelaide Bank. From here, IF&I developed a new brand and WA Home Loans was born.

WA Home Loans experienced great success and led to the company expanding Australia wide with the development of five similar state-based brands; Homeloans VIC, Homeloans NSW, Homeloans QLD, Homeloans SA and Homeloans Canberra Pty Ltd.

In March 2001 the company became publicly listed on the Australian Stock Exchange.

Loan Products


Type of Loan Home Loan Information
Standard Home Loan  
> Easy Saver This loans offers flexibility combined with a low variable interest rate
> All Purpose 100 This product is ideal for first home buyers who own no other real estate.
> Balanced Special Balanced special
> Smart Saver Borrow up to 100% of the purchase price. No extra fees or charges.
Lines of credit  
> Smart Credit A Line of Credit that lets you access funds via cheque, cashcard, ATM, EFTPOS & giroPost
> MoniPower Line of Credit that has an option for a Visa card. Up to 10 transactions per month for free.
> Low doc: Hassle Free Smart Credit If you are self employed there is no need to provide mountains of paperwork to have access to a cashcard, ATM, EFTPOS & giroPost.
Others  
> EFM® Loan Works in conjunction with a traditional home loan. An EFM allows you to borrow up to 20% of a property's value. There is no annual percentage rate applicable to an EFM loan, unless you are in default. Instead, when you sell the property or repay the EFM, you repay the EFM amount you originally borrowed plus up to a 40% share of any increase in the value of the property. If the value of the property happens to decrease, you may not have to repay the full EFM loan amount - a feature unique to an EFM.
> Go-Between standard loan If you are buying a new home and haven't sold your current one our Go-Between standard loan will fund the purchase of your new home with no extra repayments for six months or until you sell your current property.
> 100% Offset Loan Will help your savings reduce the amount of interest your pay. Plus, you still have easy access to your savings at the same time.
> Lo Doc Loan If you are self employed and unable to provide all the documentation you need for a standard loan. They have all the features of a Standard Loan without the hassle of providing mountains of paperwork.

Branches and offices

Homeloans Ltd is one of Australia's largest non-bank lenders, having offices throughout Australia.

Homeloans Ltd Home Loans Points of difference

Awards

Your Mortgage Magazine - Australian Mortgage Awards 2004 Best Non-Bank lender

Money Magazines 'Best of the Best Awards' 2003 - 3rd Place Best Standard Loan. Product: Value Loan

Australian Mortgage Awards 2006 - Golden Morgie



Good mortgage brokers understand a broad range of lender preferences and that is why it is really useful to talk to a local mortgage broker about your specific situation. They will use their knowledge and specialized software to assist you in making the most informed decision. Simply put, a mortgage broker evaluates your situation against the lenders on their panel for the best deal.  More information on how to pick a home loan or how to assess the right business loan is available right here on the X Inc. site.


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