A Line of Credit loan provides you with access to the equity in your home or investment properties up to a pre-approved limit. You access the funds as you need to. The interest rate on a line of credit loan is usually a variable rate and repayments are interest only.
Line of Credit
Advantages
- You can use the money when you need it and pay it back when you can.
- Rates are generally lower than a personal loan or credit card.
- You only pay for what you use
- Provides you with a financial buffer to better manage your personal investment business
- Available for multiple uses
Disadvantages
- Unless care is shown it is possible to reduce the equity you have built in your home (in personal situations).
- Sometimes you may be paying a slightly higher interest rate due to the nature of the transaction
- Contact us to discuss your initial thoughts and requirements.
- Complete our finance application form covering the purpose for seeking credit and the amounts of credit sought
- We will then contact you to arrange an initial consultation, to agree the basic information required and the process for completing such
- Once that has been compiled we will review it and the provide a written strategy for you to consider.
- If you’d like to proceed, we will then work with you on a formal loan application process.
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