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Line of credit loans are exceedingly attractive to investors who need ready access to funds allowing repayment of interest on the amount of money actually utilised. Line of credit loans utilise the equity in borrowers property enabling them to draw up to an agreed limit at their will.

Access to funds is usually accomplished by writing a cheque or accessing accounts with a debit card. Investors are attracted to this product because there is no requirement to repay the principal, borrowers only need to meet interest, fees and charges on a monthly basis allowing a ready access to funds.

High income earners are attracted to line of credit loans because it allows them to reduce their debt at a much quicker rate but allowing the capacity to redraw the money if necessary. Line of credit loans generally attract a slightly higher rate of interest than traditional home loans.

Pre-Approval