Tapro | Mortgage & Finance Brokers

Home Loans

Purchasing or building your own home is an important milestone in your life. It has several steps and involves different professionals such as Mortgage Broker, Real Estate Agent, Conveyancer & Insurance Agent. We understand this journey is stressful for many.

This is where we are at your service. We are prepared to listen & understand your financial circumstances and assist you in every step to relieve your stress. We take you through a transparent process to find answers to key points such as your borrowing capacity and required amount of contribution. We consider your best interest when recommending the loan structure, the lender and the loan products meeting your personal requirements.

It is a process of finding answers while educating you during the discussion. At the end of the process, you will realise and feel that you have chosen the best offer.

We will keep you updated throughout until you have the keys to your home and thereafter. We are contactable and you will always have access to us whenever necessary, to find answers to the compelling questions. If the questions are outside our scope, we would still provide answers where possible or guide you to get the correct answers. We will be a partner with you in this journey.

Importantly, our relationship with you continues even after loan settlement. We have taken care of hundreds of our customers by getting them the best rates in the market after settlement, helping them to switch products with changing needs, assisting to top-up or get additional funding to meet ongoing demands in life.

We invite you to commence your journey with us. You will be happy you did. Speak to us today!

Investment Loans

Requirements on properties for an investor, are much different that of Home Buyers. We very well understand this position and would like to wear the investor lens in finding loan solutions to investors.

An existing homeowner may not go through the same hassle when buying an investment property. Apart from experience gained in the buying process, the income & the funds contribution requirements would be not as harsh as the previous situation of buying the owner-occupied property. Because the income has now increased due to rental income and there could be equity available in the existing property to reduce or even avoid cash contribution. A discussion with the Tax Accountant may also reveal that Investors may be entitled for negative gearing benefit.

Though the product range available to the Investors are much similar to home buyers, there are variations to interest rates, repayment terms and other product offerings. Credit policy is also different in certain areas.

Hence, its necessary to consider many factors when buying an investment property. We will explain you how these affect & benefit you and structure the loan accordingly. It's always better to call us to find out your capacity to add an investment property to your portfolio. Though you need to make a prudent decision, it may be easier than you think.

Debt Consolidation

Debt Consolidation is process where several types of debts under varying payments terms are replaced by one debt with favourable payment terms. People may unknowingly get into debt under different circumstances over a period. This could go unchecked until the person reaches a status where he or she can no longer in a position to honour the commitments.

A common mistake which happens is to finance medium to long term funding requirements through short-term arrangements such as Credit Cards, pay day lenders or short-term personal loans. Due to the nature of such facilities, instalments are high, there are additional fees or very high interest rates. Once a person has a few such debts, they get into a debt trap day by day as it has a spiralling impact on finances.

It is important to address such situations at the earliest and there are simple solutions. The solution should be cost-effective while reducing the debt burden. More importantly, you shouldn't get into a deeper trap. Speak to us about your requirements, we would be happy to guide you out of the misery.

Vehicle Finance

Almost every Vehicle Dealership provides vehicle finance. It's natural that many people take up such offers, especially when you find a vehicle which steals your heart' because it is quick and no hassle

However, if you plan ahead, you can ensure you arrange your finances with proper understanding of the terms of the contract and at a low cost. In vehicle loans, the way that you structure the loan plays a major role in determining the amount of loan repayment. Interest rate is only one factor. You may save a lot, if you pre-arrange the loan. In fact, there is no hassle, just speak to us.

Commercial Loans

The requirements and the complexity of commercial loans vary with stage of the business life cycle. It could be a start-up, purchasing an existing business or a franchise operation, additional working capital, capital expenditure for machinery or expansion. There are specific solutions to align with the needs of the business.

We at Tapro, have commercial banking experience and the ability to understand your requirements well. There are a range of Lenders who have different appetites to certain segments in the market. With our experience, we will approach the lenders suitable to your requirements and get you an appropriate and competitive solution..

Accounting, Financial Planning, Insurance, Conveyancing, Real Estate

We are directly engaged in "Credit/Lending" for which we have a passion.

Yet, we are aware that our Clients do have other requirements. Without creating a conflicting interest in trying to do everything in house, we are always prepared to provide you a link to Professionals who specialize in the areas. We maintain close working relationships with such Professionals.

Standard Variable Rate Loan is one of the most sought-after products in the market, mainly due to the high flexibility it offers. The rate of this product is variable and is aligned with the economy of the country, which in turn has a direct relationship to the Cash Rate of the Reserve Bank of Australia. Many Lenders consider Standard Variable Loan Rate as the base for determination of interest of other loan products.

Offers additional repayments without penalty.
Can be linked with off-set accounts which facilitate faster repayment of the loan.
Option of redraw to withdraw excess repayments already made for any purpose, facilitating access to cash in case of need.
Allows loans for a longer period, usually up to 30 years.
Rate moves up or down with the market. Though there had been a direct link to the cash rate of Reserve Bank in the past, Banks have been making changes to the rate without aligning 100% to the cash rate for some time now.
There is a risk of increased monthly repayments in a scenario of higher interest rate as well enjoying the lower repayments when rates are low.
Rate is usually higher compared with other standard loan products. However, Lenders offer discounts to Borrowers if they subscribe to Professional Packages.

Basic Variable Rate Loan is more similar to Standard Variable Rate Loan with the exception that it offers a comparatively lower rate of interest and less features. This loan type is also called “No frills” Loan due to its limited features.

Rate of interest is lower than Standard Variable Rate Loan.
Less features, usually no off-set facility, However, additional repayments and/or redraw allowed.

Fixed Rate Loans offer a fixed rate of interest for a given period of time and reverts back to a variable rate loan at the expiry of the fixed term. However, the Borrower has the option to choose another Fixed Rate Loan at the rates applicable at that time. Majority of Lenders offer Fixed interest periods from 1 year to 5 years.

Changes in fixed rates are not always related to the changes in variable rate in the market. Variable rates are somewhat linked to the cash rate of the Reserve Bank whereas fixed rates are determined by the demand and supply factors in the market.

Protects against risk of increasing repayments due to rise in interest rates, for an agreed period of time.
Provides certainty of amount of repayment duration the fixed term, thus making budgeting easy.
Some Lenders offer partial off-set facilities.
Additional repayments can be made up to a limited amount per annum depending on the Lender. Any additional payments above such a limit attract fees and penalties.
In the event of settling the loan in full before the end of fixed rate term, penalties are payable. The amount of the penalty (also known as “break cost”) may depend on the contracted rate, prevailing market rate and several other factors.
Reduced flexibility as repayments will be fixed even if there is a reduction in market interest rates.

Construction Loan is designed to finance the building of a home, facilitating the Borrower to meet the obligations under the standard building contracts. Unlike the other type of loans, constructions loans are drawn in stages, usually to make payments to the Builder in 5 different stages in line with the progress payment schedule of the Building Contract.

Construction Loan is predominantly a Variable Rate Loan product though there are a few lenders those who offer fixed rates.

Drawn in stages usually to pay the Builder directly, after verification of work completed per the Building Contract.
Borrower need to pay only the interest on the amount of the loan drawn until the loan is fully drawn.
Drawdown fess are payable to most of the Lenders.
All the features of the Variable Loan may not be available while the loan is not fully drawn.

Line of Credit operates in a similar way to a Credit Card or Overdraft account. Lender set-up a LOC limit for the customer within which the customer can operate. Funds can be withdrawn and deposited within in this limit according to the requirements of the Borrower.

It is one of the most flexible accounts which do not have any fixed repayment terms, as far as the balance is within the approved limit.
Interest calculated on the drawn balance is debited to the account, usually on monthly basis.
Requires high level of financial discipline to manage this type of an account, as it does not have fixed repayments. However, subject to proper management of finances, the product provides a lot of flexibility.
More appropriate to Borrowers who experience fluctuations in their cash flow.
Usually the limit is restricted to 80% of the value of the security.
Rates are generally higher than standard home loan products, but lower than Personal Loans or Credit Cards.

Bridging Loans are intended to bridge the gap between the purchasing of a new property and selling of an existing property. Both tasks cannot be achieved together in a convenient way, unless there is simultaneous settlement, or a Lender is prepared to carry the total debt during a short period of time.