With so many different types of loans available, it's hard to know what product to choose.

The easiest way to decide is to see a finance broker, they should do all the decision making for you, but if you want to know a bit about the types of loans before your visit, we've put together a summarised product list with their features.

Standard Variable Rate

  • Offers flexible repayment frequency options such as weekly, fortnightly, and monthly
  • 100% Mortgage Offset feature is available
  • Discounted “honeymoon” rate often available
  • Extra repayments allowed
  • Redraw on extra funds permitted
  • Professional packages available
  • Principal and interest or interest only

Fixed Rate

  • Interest rate is fixed for a specified period (generally 1,2,3,4,5, 7 years)
  • Interest rate is not subject to interest rate movements in the market, while fixed
  • Offers flexible repayment frequency options such as weekly, fortnightly and monthly (unless interest only)
  • Penalties may apply if loan is repaid before the expiration of the fixed rate period
  • Extra repayments permitted but are limited
  • Redraw generally not available during the fixed rate period
  • Mortgage offset nominal (if any)
  • Principal and interest or interest only

Budget/Basic

  • Offers flexible repayment frequency options such as weekly, fortnightly and monthly
  • Discounted interest rate for the term of the loan
  • Has less product features than the standard variable rate loan
  • No introductory discounted interest rate available
  • Extra repayments allowed
  • Redraw on extra funds permitted (fees apply)
  • Principal and interest or interest only

Combination or Split

  • Offers a combination of both fixed and variable rate loans to take advantage of different benefits

Line of Credit

  • Pay credited in full to loan account
  • Facility can be used for a range of different purposes
  • Repayment options are usually flexible
  • Funds are easily accessible via ATM, Netbank and EFTPOS
  • Free redraw
  • Variable interest rate

Low Doc

  • For borrowers who are unable to provide Financial Statement/Tax Returns to the lender to verify income
  • Available to self-employed applicants only
  • Minimum two year self employed
  • Must have an ABN
  • Must be registered for GST

Bridging Finance

  • Finance can be arranged for a new home or block of land to be purchased prior to the sale of your existing property
  • Repayment options on loan can be tailored to your individual circumstances

If you need a home loan, car loan, truck loan, investment loan or any other type of loan, a mortgage broker can take away all the pain of choosing the right product for your situation.

To get started, contact PEB Finance on 1300 187 894. Our offices are located in Inglewood and Willetton, Western Australia and we are happy to visit you, in your home, anywhere in the Perth metro area.  

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PEB Property Group is a complete financial planning advisory service for Perth families. Offices are located in Inglewood and Willetton, Perth, Western Australia and offer - Financial Planning · Finance Broking · Property Management · Real Estate Sales · Property Investment · Development.

PEB Finance is a trading name of PEB Brokers Pty Ltd ACN 604 784 401 | Australian Credit Licence 389510 | Credit Representative Number 476313.

PEB Real Estate is a trading name of PEB Real Estate Pty Ltd (Licensee) ABN 33 604 199 617 | Triennial Number RA70508.

PEB Financial Planning is a trading name of PEB Group WA Pty Ltd ACN 142 958 254. Rebecca Howarth and Howarth (WA) Pty Ltd trade as PEB Financial Planning. Rebecca Howarth (ARN 244928) and Howarth (WA) Pty Ltd (ARN 433328) are Authorised Representatives of NEO Financial Solutions Pty Ltd. AFSL 385845 | ABN 64 141 607 098.