Your Finance Group

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Services

1. HOME LOANS

Finding a home loan is difficult work for the inexperienced. It is very time consuming and can take many days or weeks. Even then they cannot be sure they have made the right choice.

At Your Finance, our friendly and experience consultants help and guide you through the whole process. We have access to the big and smaller banks as well as building societies, credit unions and many other smaller lenders, enabling you to choose from hundreds of loan products.

We at Your Finance provide you personalised friendly help and use technology to provide you various loan options that identifies the loan products and lender that match your individual needs.

Your Finance does not lend you the money. We are not a lender, but a personalised service provider that connects you to the loan that you believe is best suited to your needs. We then undertake the majority of the time consuming work to help you get that loan.

Best of all, there is no charge to you for our service. The lenders pay us.

Why spend weeks researching all the banks when Your Finance can do the job in hours and for FREE.

And we do all this free of charge to you..

Enquiries to: info@yfg.com.au

2. INVESTMENT HOME LOAN

Most believe buying an investment property is a good investment. But few know where to start. They also don’t know who to turn to for help with the finance.

That’s where Your Finance Group come to your rescue.

We are experieced in the field of investment property finance. We pride ourselves in our ability to talk with you about your property investment goals, immediate and long term and then help you tailor the best finance package.

We also assist you to present your plans to you’re Accountant as well as your Solicitor to ensure the set up and legal entity of your investment portfolio is best suited to your needs. If you don’t have an Accountant or Solicitor we can assist you with names of those who specialise in this area to guide you.

Starting or adding to your property investment is a major financial commitment. You need to ensure you maximise your financial gain. You cannot afford to make a costsly mistake.

We at Your Finance Group will assist you through out the process including calculating how much you can borrow, which lenders you should qualify, the cost of the various loan types, advise you the documentation required by the lenders and help you structure the security used by the bank.

We then help you complete the finance application, submit the deal to the lender for you and deal with all the follow-up enquiries by the lender.

And we do all this free of charge to you..

Enquiries to: info@yfg.com.au

3. DEBT CONSOLIDATION HOME LOAN

There are various reasons why people choose to consolidate their existing loans into one.

For some their credit cards, store cards and those interest free term loans are placing great strain on their finances. For these clients their immediate need is to lower repayments, reduce the costs of interest rates and bring their loans into one manageable debt.

For others their monthly repayments are manageable, however the interest rate charges on their non bank loans, including their credit cards are unacceptable. Their need is to consolidate all debts into one lower cost loan, keeping up the repayments to reduce the term of the loan period.

What ever the reasons you need or wish to consolidate your debts, we at Your Finance Group can help you.

Our experienced consultants will carefully listen to your immediate and long term needs and then help you formulate a loan that suits your repayment, interest costs and term requirements.

And we do this free of charge to you..

If you are struggling with repayments, or outraged at the interest costs of your cedit cads and other non bank loans, then you need to contact us and let us help.

Enquiries to: info@yfg.com.au

4. EQUITY HOME LOAN

Most all of us have things we would like to do with the equity we have built in our property. If you have spent many years building up this equity, you should be able to get your hands on it when you need to.

This can be done either through a loan with structures repayments or a Line of Credit where a limit is set and you work within that limit, similar to a cheque account. Depending on the lender, you can borrow up to a maximum of between 80% or 90% of the assessed value of your home, dependant on the lender. The monies can be used for a multiple of purposes, such as

• Renovations to you home,

• Helping with the deposit for an investment property or weekend retreat

• Vehicles, boats and caravans, and

• Helping the children with their schooling or university

What ever the reasons you need to release the equity in your home, we at Your Finance Group can help you. Our experienced consultants will carefully listen to your immediate and long term needs, present you with a number of finance options and then help you formulate a loan that you believe is best suited to your needs. Why not contact us now for a no obligation discussion.

Please remember, our services are free to you.

Enquiries to: info@yfg.com.au

5. CAR LOAN

Buying a car is often a time consuming and complicated process for most. Then when you do find what you have been searching for, your challenges are not over.

Now you need finance.

Thats where we at Your Finance Group can help. Just call or email us, provide some details and we will arrange a quote and then the application. Most often this can be done by phone and fax. Often the only meeting reqired is we the documents are eady for signing.

Yes it is that easy.

Enquiries to: info@yfg.com.au

6. BUSINESS PURCHASE

Thinking of purchasing a business? This is a very important decision on its own. However the method you finance this business is absolutely critical to your future success. There are many varied methods to finance everything from the goodwill, fixture & fittings, equipment and the furniture. The incorrect finance package could mean you tie up all your funds early placing severe limitation on your capacity to cntinue trading further down the line. You need to discuss your plans with Your Finance before you make any key decisions. Contact us now and save yourself a lot of valuable time, energy and stress. Enquiries to: info@yfg.com.au

7. BUSINESS CASH FLOW

8. UNDERSTANDING TERMINOLODY

There are many terms used by the finance industry that confuse many consumers. The following are brief explanation for many of the most used terms. We hope you find this helpful.

Please contact us at info@yfg.com.au, if you wish explanations to any other terms.

INTEREST RATE TERMS

Comparison rate - A rate to show the “real cost” of the loan in comparison to other loans. This rate includes set up fees and ongoing charges of the loan but excludes other fees such as redraw or early repayment fees.

Fixed interest rate - An interest rate that is locked in for a specified period of time.

Honeymoon rate - A low interest rate offered at the start of a loan. At the end of the specified time period the interest rate converts to a standard variable rate.

Interest in advance - Where interest is charged at the start of a period of time, e.g charging the first year’s interest in the first month of a loan. Generally for investment purposes.

Interest in arrears - Interest charged at the end of a period of time, usually monthly.

Interest only loan - The borrower only has to pay the interest that is accrued on the loan and no principal payments for a specified time period.

Honeymoon rate - A low interest rate offered at the start of a loan. At the end of the specified time period the interest rate converts to a standard rate.

100% Offset - A savings account linked to a loan offsetting the interest earned in the saving account and that raised in the loan. Designed to reduce the term of the loan.

Variable interest rate - An interest rate that can fluctuate over the term of the loan and is not locked in for a specified period

LOAN FEES TERMS

Application fee - Also called the Establishment Fee, is a fee paid by a borrower for setting up a loan.

Loan break costs - A fee which may be payable to the Lender if, prior to the expiry of a fixed rate period, the borrower repays the loan in full, regardless of the reason.

Economic cost - is the lender’s estimate of its loss resulting from the repayment of the loan.

Government charges - Refers to various charges payable to the government/s. Examples include transfer of land stamp duty, mortgage stamp duty, transfer and mortgage registration fees. Amounts vary for each state and territory.

Lenders Mortgage Insurance or LMI)- Insurance arranged by the lender to protect itself from default by the borrower. Generally required for loans with a Loan to Value Ratio (LVR) above 80%.

Monthly service fee - A fee which may be payable each month on a loan account. The fee varies depending on the type of loan.

Mortgage stamp duty - A state government tax on the value of the amount borrowed and stamped on the mortgage, payable by the borrower.

Prepayment fee - Applies to fixed rate loans where a fee is payable when the whole or a substantial part of the loan amount is prepaid during a fixed interest rate period.

Rate Lock - This is where the fixed interest rate quoted at the time of loan approval is locked for up to 3 months. A separate application and fee is payable for this service.

Switch fee - Payable when you request to change the type of interest rate or the type of repayments, or to increase the amount of credit except by way of redraw.

OTHER LOAN TERMS

Conditional Approval – The initial approval of a loan application which is subject to conditions. These must be satisfied before the Lender provides unconditional or formal approval.

First home owners grant - (FHOG). A Federal Government grant given to qualifying first home buyers.

Guarantee - A promise by a third party to meet a borrower’s payment obligations if they are unable to pay. It is often secured by the guarantor’s own property.

Loan to Value Ratio (LVR) - The total amount of the loan divided by the value of the property, e.g. if a property is valued at $300,000 and the loan is $240,000 then the LVR is 80%.

Lump sum payment - An extra repayment made to a loan, outside of the scheduled repayments.

Pre Approval - An indicative approval providing an estimate of how much someone can borrow (before finding the property), based on the information provided to the bank.

Prepayment - Additional payment(s) made to a loan, in addition to the scheduled principal and interest repayments.

Redraw - A loan feature allowing the withdrawal from a loan of any advanced repayments.

Repayment holiday - If a borrower is ahead in their repayments, they can apply for a break in making loan repayments.

Unconditional Approval - The final part of the approval process once all of the outstanding requirements have been met. The lender will provide unconditional or formal approval.