Important information

Please be aware of the following;

Effective Immediately Tuesday 6th March 2012 Credit License Cancellation Lodged By Us With ASIC

Ability Finance have elected to cease all credit activities covered by ASIC credit licensing for various reasons including but not limited to;

  1. Lender commission cuts over the past few years.
  2. Additional liability, workload and costs arising from National Credit Licensing
  3. Lender minimum volume restrictions which result in smaller brokers not being able to offer all options to customers.
  4. Regularly encountered inexperienced lender staff who are unaware of their own employers policies whose advice wastes both broker and customers time and resources.
  • As a blog style website there is only historical content contained within this website that is out of date and no longer applicable. This content must only be used for historical reference purposes.
  • Ability Finance, through choice, no longer represent any lenders who may be historically referred to within this website.
  • No information or content contained on this site should be relied on as being current.
  • No content contained within this site should be taken as advice in any way at all.

Should you feel there is any content that should be removed from this site please contact the webmaster.
By any chance you feel specific content is interpreted as offering any credit activities by us it is to be ignored, please report to the webmaster for removal or modification.
If you are legally entitled to engage in credit activities and would like to advertise on this site please contact the webmaster.
If you would like a website developed or even to purchase this site modified to your requirements please contact the webmaster.
Meanwhile we are working hard at creating a one stop shop for purchasing high quality spray painting equipment online including an extensive range of the best spray gun models we are able to offer at discounted prices everyday right across the complete range of available spray gun models. Online spray gun prices with old fashioned personal service levels.

Line of Credit Home Loan

Home Loan Line of Credit

  • Are you looking for a flexible home loan product?
  • Do you require the ability to access the equity in your existing home at will?
  • Prefer constant redraw or use of your home loan funds up to the approved limit at any time?
  • Desire the flexibility to utilise your loan account for salary credits, everyday transactions etc?

....Then a Home Loan Line of Credit Product may suit your needs.

With a Home Loan Line of Credit you can access your funds up to the approved limit and structure your accounts in many different and varied ways, the minimum you need to pay is the interest charged at the end of each month. You can use your Line of Credit account as your everyday transaction account with regular deposits and withdrawal transactions.

Many lenders offer the ability for you to operate this facility as an all in one account. Line of Credit home loans allow borrowers to borrow up to a predetermined, specified limit which is secured by a registered mortgage over property. These loans provide access to funds as and when required up to the original approved loan amount. Generally the minimum repayment required is the accrued interest only portion.

Most lenders will require payments towards the loans principal amount after a period of time. A line of credit loan can be a convenient way of generating funds for investment or business purposes up to the pre-determined limit. Line of Credit loans provide flexibility; the funds can be used when and as needed and paid back without inflexible minimum principle and interest repayments.

The minimum required is usually the interest on the outstanding principal and securing a line of credit loan with residential property is a convenient method of obtaining finance with an interest rate that is lower than business loans, credit cards and personal loans.

A line of credit loan can require a certain amount of discipline by borrowers to ensure that over time the principal of the loan is reduced. Interest rates for a line of credit loan are generally slightly higher than standard types of home loans such as standard and basic variable interest rate home loans.