Line Of Credit

For borrowers with high income and little expenses or a strict personal budget, this product may help you rapidly reduce your debt. It is essentially an overdraft where your salary and other incomes are paid directly into it. This way you save on interest costs while your salary sits against the loan. During the month you pay all of your expenses on the credit card and at the end of the month you can set up a credit card sweep so you are ready to start again next month. Technically an interest only loan, however most people make higher repayments to enable them to reduce the loan quickly and redraw for investment purposes back up to the original loan limit. This loan has no limit to its life. Once established a Line of Credit could potential remain active for much longer then the normal 30 year term. Interest rates will normally be higher for this style of loan.

Standard Variable Loan | Basic Variable Loan | Line Of Credit Loan
Fixed Rate Loan | Construction Loan | Low Doc Loan