Line of Credit / Home Equity Loans
Home Equity Loans allow you to unlock the equity in your existing property for other opportunities such as financing an investment property, renovating your home or investing in shares or managed funds. These loans are often referred to as "revolving" or "evergreen" loans.
Home equity loans can also be used by parents to assist their children in buying a property to help them increase their deposit and avoid paying lenders mortgage broking insurance.
Advantages
Treated as a line of credit, you only pay interest on the amount that you have spent.- You have a reusable limit, so when the loan amount reduces you can use that equity again.
- Money is easily accessed by cheque or ATM card linked to this loan. You can use it for living expenses or for other investments.
- By depositing your salary and savings into this loan you reduce the interest charge.
- Extra repayments are allowed at any time.
Disadvantages
- Some lenders are becoming more strict with how you spend your equity.
- Ease of withdrawal means that if you are undisciplined this loan can get out of control.
- Some lenders charge a higher rate for home equity loans.
- There may be higher ongoing fees associated.
WHY CHOOSE QUEST HOME LOANS?
The fully qualified consultants at Quest Home Loans understand how important your financial future is. They take the time to get to know what your specific objectives are now and into your future endeavors. We not only find the right solution for you but we provide you with as much information as possible so that you make educated decisions every step of the way. With our panel of lender experts you know you’re provided the most up to date options.
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There is so much to consider when buying your own home. Can I afford it? Where do I buy? What will my repayments be? There are over 600 loan products to choose from so let Quest Home Loans simplify this process for you and make it a time to celebrate! 
Property is still considered one of the safest investments. If you’ve been thinking about buying an investment property or expanding your portfolio, Quest Home Loans expert will make sure you get the right advice to maximise your investment potential.