[bactttoma] Home Loans.

  • From: steven taylor <steven_taylor10@xxxxxxxxxxx>
  • To: bactttoma@xxxxxxxxxxxxx
  • Date: Mon, 3 May 2010 08:03:33 +1000

Here is a topic outside the scope of most lists, but not this one.

RESI has just released a new home loan product for people on low incomes.

Naturally, conditions apply as usual, but what I did like about this loan was 
no catches, no fine print, no extra annual service fees and an interest rate of 
6.95 percent fixed for 3 years with the ability to split, the ability to 
redraw, and the ability to pay part of the loan at variable interest rates.

Want my 2 cents worth, and I am no financial expert, if you find a fixed 
interest rate at the moment, take it for as long as the financial institution 
permits you to take it.

Of course, credit checks apply but since this company is what they call in the 
industry a non bank lender, whilst the process is still strict, it is not as 
strict as the banks will be.

And there is no annual fee for servicing the loan like most bank loans who 
charge fees and then interest on top of fees and interest on top of interest.

So as usual, seek professional financial advice and consider all products 
carefully before you make the commitment, because once you make a commitment, 
the company even though they are a non bank lender wants their money at the end 
of the day.

Cheers.

Steven.


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  • » [bactttoma] Home Loans. - steven taylor