What is an Interest-Only Loan?

by | May 17, 2022 | Types of Loans

What is an Interest-Only Loan or Mortgage? An interest-only loan is structured so that you only pay the interest component on your loan. For these loans, the principal of the loan is not repaid during this repayment period. There is usually a specified, short-term...

What is a Split Mortgage?

by | May 17, 2022 | Types of Loans

What is a Split Loan or Mortgage? A split loan is a complex structured mortgage that folds in the features of multiple types of loan products, eg, fixed interest rate and variable interest rate. The primary reason this is considered is to incorporate the security of a...

What is Landlord Insurance?

by | May 16, 2022 | Types of Insurance

What is Landlord Property Insurance? Landlord insurance covers an investment property owner from financial losses or damage to their property as a result of malicious damage or unexpected events such as fire, storm and flood. The policy covers the building but does...

What is Contents Insurance?

by | May 16, 2022 | Types of Insurance

What is Building Contents Insurance? Content insurance covers the contents of your home in the event they are destroyed, damaged or stolen. It is separate from property insurance. It may or may not cover items that are not always housed in your home, eg, a...

What is a fixed rate loan?

by | May 12, 2022 | Types of Loans

What is a fixed-interest rate loan? These loans are set at a fixed interest rate for a specified period (usually one to five years). The advantage of this type of loan is that it allows you to organise your finances and repayments without the risk of rising interest...