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Asset loans are generally used by senior people over 50 years of age who may still be doing some form of part time work which may be on a self employed basis.
Asset lend is a loan against your home or investment property with a self declaration that the loan will not cause you any hardship , no financials required up to 70% of the value of your home.
For example – if you required a loan of say $50,000 but the loan limit was $80,000 - the balance ($30,000) can be left in your re-draw facilities in the loan which you can access at anytime, or if you wish to have your interest payments coming from this redraw amount then you can set the loan up to do this. Interest payments are by direct debit. You can also make payments in to the loan whenever you wish via internet or telephone banking – your choice.
You only pay interest on the amount that is used, there are no minimum limits on re-draws or on amounts you wish to pay into the loan at any time. This service is free.
The loan itself is linked to your nominated bank account and via internet or telephone banking you can transfer funds between these accounts yourself. Free internet and telephone banking on deposits and re-draws, no monthly charges, interest only options, the loan is very flexible.
The procedure is – to call (07) 55383618 or email to us assetloan@seniorsfinanceaustralia.com.au if you require any further information at this stage so that we can see if you qualify for this type of asset loan.
The application forms and supporting documents will then be posted to you to read. |
