Home Loan

Home Home Loan

Below are the types of home loans that we can assist you to obtain based on your own circumstances:

Full-doc loans (for on PAYG or self-employed)

This is the most common type of home loan on the market. You need to provide the most recent 3 months’ bank statements from your main transaction account for verifying your income and living expenses. If you are on PAYG, you normally need to provide the most recent 2 payslips. If you are self-employed, you need to provide the most recent 2 financial years’ tax returns and financial statements. Some lenders accept short-term employment (for PAYG applicants) and less than 24 months’ trading history (for self-employed applicants). Full-doc loans usually offer the most competitive home loan interest rate on the market.

Low-doc/Alt-doc loans (for self-employed)

If you are self-employed but unable to provide tax returns and financial statements, you may choose low-doc/alt-doc loans. Most lenders only require one to two documents from the following:

  • an accountant’s letter that confirms your income; and/or
  • recent BASs; and/or
  • business bank statements for verifying your serviceability.

Documentation and disclosure requirements are lower compared with full-doc loans. However, interest rate is normally 1-2% higher than full-doc loans.

Bridging loan

If you plan to sell your home or have already sold your home but the sale is not yet settled and you are looking to buy another home. Bridging finance can be used to cover the gap.

Construction loan

If you want to buy a block and land or knock down your old house and build a brand-new home, construction loan can make your dream come true. The lender will conduct valuation as if the house has been built. The loan facility will be interest only during construction. At each stage of the construction, a portion of the loan will be disbursed to the builder. When construction is completed, the loan will be reverted to a standard variable home loan.

SMSF loans

SMSF loans enables self-managed super funds (SMSFs) to borrow money for buying a property. Lenders generally only accept corporate trustee. The loan must be non-recourse. Custodian trust must be established for lending and compliance purpose. Typically, borrowers will need to obtain legal and financial advice before applying for SMSF loans.

Our niches

  • Stress-free process

    You provide information and supporting documents, and we will fill all the forms and prepare paperwork for you.

  • Interest rate discount

    Based on the loan amount and loan-to-value ratio you seek, we may negotiate a discount with the lender.

  • Fast turnaround time

    We are the key account for some lenders, which enables us to get your loan application to be assessed within as fast as 1 business day.

  • Tailored solutions

    You may think you are not qualified for a home loan because of the following:

    • Only recently commenced employment with current employer; and/or
    • Only recently commenced to run your business; and/or
    • Have bad credit history; and/or
    • Holding a temporary work visa

    We are here to help you. Our lending experts at Metropolis Finance always look into your personal financial circumstances and will find out the right mortgage product to suit your needs.

  • Home loan maintenance

    We will look after you for the life of the loan. We review your interest rate regularly. If interest rate is no longer competitive, we will negotiate with your lender to reduce your interest rate. Alternatively, we will assist you to refinance to another lender. We can also assist you to change loan purpose, such as from investment to owner-occupied, combine loan accounts, split loan account and fix interest rate to suit your changing needs.