Buy the home you want, even if you have a less than ideal credit history
If you've experienced unforeseen circumstances and have some bad marks on your credit history, Liberty Financial’s Custom home loan may be able to help.
|Product Name||Liberty Financial Custom Home Loan|
|Interest Rate Type||Variable|
|Interest Rate (p.a.)||4.74%|
|Comp Rate^ (p.a.)||5.03%|
|Minimum Loan Amount||$30,000|
|Maximum Loan Amount||$3,000,000|
|Maximum Insured LVR||95%|
|Mortgage 100% Offset||No|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Ongoing Fees||$15 monthly ($180 p.a.)|
- $0 application fee.
- $0 settlement fee.
- No offset account.
- $330 valuation fee.
- $15 ongoing fee.
- $395 discharge fee.
Who is Liberty Financial?
Liberty Financial is a non-bank lender funded by some of the world's largest financial institutions, such as Deutsche Bank, Credit Suisse and National Australia Bank. Liberty has been helping Australian borrowers since 1997, now serving more than 140,000 customers and managing assets of $12 billion.
Things to consider about the Liberty Financial Custom home loan
This loan is designed for those with negative listings on their credit file. These can include paid and unpaid defaults and discharged bankrupts. The exact loan terms you’ll receive will depend on the nature of your defaults, including who they were from, when they were listed and if they’re still outstanding. The interest rate shown on this page is indicative only, meaning you may receive a rate which is different depending on your individual circumstances. This loan is available for those buying a home or investing, and is available to the self-employed and contractors.
Features of the Liberty Financial Liberty Custom home loan
- Maximum LVR. You can borrow up to 90% of your property’s value with this loan, although the exact amount you’ll be able to borrow will depend on your individual circumstances. The minimum you can borrow with this loan is $30,000, and the maximum you can borrow is $3,000,000.
- Repayment flexibility. Repayments can be made weekly, fortnightly or monthly with this loan, and you can make additional repayments.
- Redraw. You can withdraw the additional repayments you make on this loan in the event that you need funds. This can be useful in the event of an emergency or unexpected cost such as medical bills.
- Split rate options. This loan can be split into both fixed and variable rates, offering you the flexibility of a variable rate loan with the repayment security of a fixed rate loan.
- Interest-only options. This loan gives borrowers the ability to make just the interest portion of their repayments without reducing the principal, a popular feature with investors.
- Application fee. $0. There’s no application fee charged by Liberty Financial for the Custom home loan.
- Settlement fee. $0. This loan also carries no settlement fee, which is usually charged to cover the cost of moving funds to your name.
- Redraw fee. $50. There’s a fee of $50 per redraw with this loan.
- Valuation fee. $330. This charge covers the cost of having the property you’re using as security valued. If the loan amount is over $750,000 or the property is in a regional location this fee could be higher.
- Monthly fee. $15 per month. This is an ongoing fee charged to maintain your account, totalling $180 a year.
- Discharge fee. $395. This is charged upon leaving your loan.
How to apply for the Liberty Financial Custom home loan
You can find out more and start an application for this loan by contacting a mortgage broker or Liberty Financial directly. To speak to a mortgage broker and find out if this loan is suited to you, click ‘Enquire about this home loan’ and fill out the form on the right hand side of this page.
Enquire about this home loan