Mortgage Finance
Each Lender has different guidelines for Home Loans, Investment Loans and mortgage lending. Pricing and products vary so that is where our service really adds value for your proposal because while it may not fit in with your current Bank/Lender we can usually find you a solution with one of our other Lenders. We pride ourselves on getting finance designed for you rather than trying to make you fit into "the box".
When it comes to finance it isn’t just interest rates that need to be considered. It is also about the features, benefits, fees and charges that differ with each product and each lender. Again that’s why our existing clients come back and refer their friends to us, we work with you so that you understand how to get the most out of your loan, reduce your interest costs and keep more money in your pocket.
Why Use a Mortgage Broker?
When you talk to your bank, they only have one option to offer, you will benefit from working with a professional accredited broker who can deliver you more choices and take care of the tedious process involved with comparing the different lending options available.
We have a specialist mortgage team who have been involved in lending for over 20 years and are well qualified to provide finance solutions for the astute investor to the first homebuyers.
Business and Commercial Finance
We specialise in helping small to medium business people acquire the finance they need to grow their business taking into consideration their finance needs today and for the future.
Vehicle and Plant and Equipment Finance
Chattel Mortgage
With a Chattel Mortgage you effectively take ownership of the goods upon delivery with the Financier securing their interests by registering a charge over them.
Product Features:
· 100% finance available
· You hold title to the goods
· Flexible repayment schedules available
· Tax benefits - claim of interest & depreciation
· GST on the goods able to be claimed back in your BAS
Commercial Hire Purchase
Similar features to the Chattel Mortgage with the exception that
the finance company is the owner of the goods and you are the
hirer of the goods.
Title does not pass until the last payment is made or the contract paid out.
Finance Lease
A Lease Agreement is a series of rental payments over a period of time with an end value (residual) placed on the goods. This residual value is determined by parameters set down by the taxation office.
With a Lease Agreement the Financier (Lessor) agrees to purchase the goods required by you (Lessee) and therefore becomes owner of the goods. The goods are then leased back to you under a Lease agreement, which sets out the residual value of the goods, the term of the Lease in months, the monthly rental (including GST & stamp duty and the depreciation rate).
When the Lease Agreement expires there are several alternatives available to you:
· Return the goods to the Financier who will then sell it in the market place. If there is a shortfall on the sale of the goods and the outstanding residual value then you will need to make up the shortfall.
· Refinance the residual value over a further term.
· Make an offer to purchase the goods, which may be accepted.
Product Features:
Rentals can be structured on a monthly, quarterly, half yearly, annual or irregular basis depending on your requirements with the term ranging from 1 to 5 years.
The Residual value is established according to parameters set down by the Taxation Department. Lease rentals are tax deductible and the GST payable on the rentals is claimed back in your BAS according to the % of business use. (Always consult your Accountant to discuss the best option to suit your circumstances.)
Novated Lease
This facility is similar to the Finance Lease but is aimed at the employee who has the option of receiving a car as part of their salary package. The employee can choose a vehicle of his / her choice which is then leased through the Financer under a Finance Lease. You then sub-lease the vehicle to your employer via an operating Lease. Your employer enters into an agreement (the novation), which makes it responsible for meeting the payments (whilst you remain in their employment). Structures are available as per the Finance Lease.
Product Features:
Employee - The employee gets to choose the vehicle / options that they desire without any capital outlay. If you leave your current employer, you are not left without a vehicle.
You have the full use of the vehicle
without having to budget for the payments.
Employer - There are numerous tax benefits for the Employer along with the fact that you are not left with an unwanted vehicle should your employee leave your services. The lending is not reflected in your balance sheet, which may be beneficial when you require further borrowings from you Bank or Finance Company.
Our business is built on client referrals; please pass our details on to your friends and family members. Thank you for looking at Precision Loans - we hope to hear from you - 07 3821 8014, 0422 615 413 or admin@precisionloans.com.au
