Refinance, 2nd Mortgage Loans or Investor Type Loans
Non Conforming Loans
Qualifying for some home loans can be difficult and at Drexel we understand that everyone’s situation is unique. We offer non-conforming loans to those who are unable meet mainstream lender's strict lending criteria, including:
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Older borrowers
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Borrowers with a bad credit history
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Those with a history of late repayments
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Borrowers with loan defaults
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Formerly bankrupt borrowers
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New migrants with no borrowing record
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Seasonal, casual or self-employed workers
Our non conforming loans are suited to:
Bridging or Bridge Loans
Drexel’s Bridging Loans are designed to provide borrowers short-term finance for residential purposes. We understand that trying to co-ordinate the sale of an existing home with the purchase of a new property can be a daunting experience. When you are experiencing difficulties in achieving simultaneous settlement, bridging loans are often used to cover a finance gap between the purchase of a new property and the sale of an old property. This means you are empowered to go after the property you want, without being held back by the practicalities of a sale.
Reverse Mortgages
Are you constantly struggling to find the funds to do the things you would like to do in life! Drexel’s Reverse Mortgage Loans allow you to unlock your accumulated wealth and turn your bricks and mortar into a cash resource, to fund the lifestyle you would like to live. And unlike many other loans you do not have to sell your home and your title remains in your name. You are then free to use the loan to fund anything you want including:
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Home renovations and home maintenance
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Health care
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Pay off credit card bills
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A new car
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Education costs
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Pay out an existing mortgage
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An overseas holiday
The choice is yours!
Most importantly unlike standard loans, there are no regular repayments of either interest or capital to be made during the loan.
Second Mortgage
At Drexel we pride ourselves on being the superior alternative in providing real choice. Another option to gain access to funds is a second mortgage.
If you need money for something urgent such as a business opportunity but you do not qualify or cant get mainstream finance approved in the necessary time. Why not put your existing equity to work through a second mortgage.
Refinance Loans
Is your current mortgage working as well for you as it should? At Drexel we understand that the mortgage that suited you once might not be working hard enough for you today.
Circumstances may have changed, or you want to find a better interest rate or need to reduce your monthly repayments. Or you want to tap into your home equity and free up some money to renovate or invest. Whatever the reason, our loan experts are equipped to help you find a refinance loan to meet your changing needs.
Equity Finance
At Drexel we also offer Equity Finance Mortgages. These can serve to effectively boost your potential borrowing capacity. Our Equity Finance Mortgage options have far reaching potential, including First Home Buyers and Investors. They are an attractive option for anyone who wants to leverage more than their current buying power.
Secured Loan
Secured loans are an attractive means of improving your prospects when applying for loans or loan amounts that may otherwise be unattainable due to bad credit. Secured loans require collateral in the form of real property such as house or land. All mortgages are secured loans.
Secured loans with fixed rates can help borrowers manage their finances and payment schedules. Borrowers can be sure that their monthly payment will not be affected when interest rates increase, which means that they can easily budget their earnings and allot fixed amounts for monthly payments.
Debt Consolidation
Are you a home owner who is tired of playing catch-up every month. Between mortgage, personal loans and credit cards, borrowers can sometimes fall further into debt every month with no apparent way out.
Drexel’s Debt Consolidation may provide a responsible approach to managing your finances. We are able to help home owners consolidate their high interest unsecured debts in with their mortgage, ensuring they enjoy tremendous savings in the process.
Debt Consolidation means you can consolidate various high-interest rate unsecured debts into one loan. The payment on this one loan can be significantly lower than the total of the payments previously made on all the individual loans.
Whether you are looking to become debt free or save for a deposit on your own home, our professional debt consolidation experts will help you achieve your goals sooner!
Interest Only Loans
Interest Only Loans are the ideal way to purchase an investment property or land because they allow investors to keep repayments to a minimum, with the rent from the investment property covering the majority of the mortgage.
Although interest only loans are most suited to investors, there are also benefits to be gained by general home buyers, those refinancing an existing loan, as bridging finance or to pay for home renovations.
Drexel’s interest-only home loans provide you with a bridging mechanism that frees you from the costly expense of paying interest on the principal sum, repayments only cover the interest component.
Our interest-only loans offer borrowers the ideal opportunity to put assets to work servicing their own future growth and enjoyment, rather than maintaining repayments.
Renovation Loans
There are many reasons for choosing to renovate as opposed to moving. The recent house price rises have resulted in many home owners enjoying considerably increased equity in their property. This can make getting a renovation loan easier and reduces the risk of over capitalising.
This means that when you decide to renovate, Drexel can arrange the best loan to suit your needs. Home owners can choose from a range of finance options dependant on the size and scope of the project. Options include:
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Redraw facility for smaller projects such as a new room
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Home equity loan for medium sized projects such as a new kitchen
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Construction loan for larger scale projects such as complete renovations that require council approval and the services of a licensed builder. |
