Are there any fees associated with accessing my online services?
There are no fees associated with viewing transactions, transferring funds or scheduling payments via your online services. There is a $10.00 fee for ordering interim statements.
Can I have both fixed and variable rates on my home loan?
Yes, you can split your home loan to have both variable and fixed interest rate payments. Please call or email our friendly Customer Care team on 13 10 90 (
customercare@loans.com.au) to discuss splitting your loan.
Do you always require valuation of property?
Yes this is a compulsory part of the application process. It is important for both us as a lender and also our customers, as the security value needs to be accurate and correct.
Do you have calculators available on the loans.com.au website?
Yes we have calculators available that you can use on our website. Please click the Calculators button located in the top menu of the website or you may choose to go directly via www.loans.com.au/calculator.
How do I ensure that your online access is fully-secure when managing my finances?
Firstmac Money is secured by Geotrust. SSL certificates from Geotrust® are the ultimate security and trust solution delivering both 256-bit encryption and the True Site™ trust mark providing third party website identity validation. The presence of SSL means you can rest assured that communications (e.g. credit card numbers) sent between your browser and this site’s web servers are private and secure when the SSL session is activated.
How do I know if I'm eligible to get a FHOG?
You are eligible if you are an Australian citizen or permanent resident, building your first home in Australia, with the intention of living in the property as your principal place of residence within 12 months of settlement and for at least 6 months. It is important to refer to each state website for the grant eligibility as the state conditions vary.
We can lodge your first home owner's application on your behalf so that the grant is available for you at settlement. You must complete the state specific application form, and provide the original application and required documentation before this can be lodged.
How is my borrowing capacity calculated?
Your borrowing capacity is a calculation of your total income less your monthly expenses, which include living expenses, other loans, credit cards and dependents.
To calculate your borrowing capacity, the following information is needed:
- Marital status, number of children and their ages up to the ages of 18
- Gross Taxable Income for each applicant (not including any Superannuation)
- Advise of all credit card limits, and any other monthly repayments for any other personal loans, car loans or any HECS/HELP debts.
How is my repayment calculated?
A monthly principal and interest payment is calculated on the number of years, the interest rate and the loan limit (i.e. the loan balance plus any surplus funds available for redraw).
Each monthly principal and interest repayment is calculated to cover the interest amount charged and the remainder will reduce the principal/balance of the loan.
Fortnightly and weekly loan repayments are based half or quarter of the monthly repayment amount.
How is the Lenders Mortgage Insurance (LMI) premium calculated?
To provide an indicative lenders mortgage insurance premium, the following information is needed:
- Loan amount
- The property value
- The state the property is located in, and
- If the property is owner occupied or an investment property.
How often do I make loan repayments?
You can select weekly, fortnightly or monthly if you have a Principal & Interest loan. If you have an Interest Only loan you can select monthly loan repayments only
Is there a way for me to know which loan is suited to my needs?
Our website provides information on a variety of our products including fixed and variable loans so you can make an informed decision before submitting an online application. Should you have additional questions about our products please call our Sales Team on 13 10 90 AEST 7am to 7pm Monday to Friday.
What are the supporting documents for Purchase of Property?
We will require the following:
- Two (2) most recent consecutive payslips for each applicant
- Three (3) months bank statements showing regular salary credits, including most recent salary credits with the name of the employer evident
- Evidence of Salary Sacrifice or Packaging (if applicable)
- Evidence of Company Vehicle/Car Allowance (if applicable)
- Full copy of Contract of Sale signed and dated by all parties, including annexures/attachments where applicable.
- Three (3) months bank statements showing regular savings pattern or funds held for at least three (3) months prior to application
What are the supporting documents for Refinance?
We will require the following:
- Two (2) most recent consecutive payslips for each applicant
- Three (3) months bank statements showing regular salary credits, including most recent salary credits with the name of the employer evident
- Evidence of Salary Sacrifice or Packaging (if applicable)
- Evidence of Company Vehicle/Car Allowance (if applicable)
- Six (6) consecutive months of home loan statements showing consistent repayment history
What can loans.com.au do to assist me if I am experiencing financial difficulty?
Please call our Payments team on 1300 784 434 between 7am to 5pm AEST Monday to Friday for further assistance.
What if part of my deposit is gifted funds?
For gifted funds, we will require a statutory declaration from the family member providing the gift, including the full name of the person receiving the gift, amount of the gift and confirming the gift is non repayable.
What is the difference between variable and fixed rates?
The interest rate on a variable loan may go up and down over the duration of the loan. You can make additional repayments at any time with no penalties or extra costs. You also can access any additional repayments. The interest rate on a fixed rate loan doesn’t change over the fixed period you have selected so you will know how much you need to pay each month and not affected by any interest rate increases. There are limits to the amount of extra repayments you can make, and you cannot access additional repayments until the fixed term has ended.
What makes loans.com.au unique from its competitors?
loans.com.au is an online lender, with our head office, lending managers, underwriters and customer care team all based in Brisbane. We work with our customers directly using phone, email, fax, post and Skype. You have a designated lending manager and support specialist to manage your home loan from application to settlement. We do not have a branch network, so no expensive overheads or shareholders dividends, nor do we work with brokers or mortgage managers, so no trailing commission. These are the main reasons we can offer such a low variable home loan rate.
What will I pay as discharge fees?
The full discharge fees will be shown on your loan agreement. Typically, there will be $300 discharge fee and $250 discharge documentation fee. If you have a fixed rate loan, there may be a fixed rate break cost applicable as well.
When can I reach your Lending Managers?
Our Lending Managers are available from Monday to Friday, 7:30 am until 5:30 pm, AEST. Please feel free to call us on 13 10 90 if you wish to speak directly with our Lending Managers.
When can I use your live chat hub?
Our live chat hub hours are Monday to Friday 7am to 11pm, and Saturday and Sunday from 4pm to 9pm. AEST.
Where and when can I reach your Customer Care Department?
You can call Customer Care on 13 10 90 option 3. Our Customer Care team are based in Brisbane and available from Monday to Friday 7am to 7pm. AEST.
Where can I see a list of all your product and their features?
All of our home loan, car loan and insurance products can be viewed on our website.
Click
here to compare our home loans.
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here to compare our car loans.