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Loan Refinancing

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Loan Refinancing

Most people know that you should regularly health check your home loan. Why? Because there may be an opportunity to refinance and get a better deal.

Features of loan refinancing

You likely knew you could refinance your home loan. But did you know that it is also possible to refinance your car, boat, bike, truck and equipment?

You could take advantage of loan refinancing if you:

  • Have a high interest loan (maybe you got poor quality finance from the car dealer or the bank charged you a very high interest rate)
  • Have ‘bad credit’ finance because you were new to Australia or forgot to pay off your credit card. Maybe you simply missed some repayments or perhaps you’ve been bankrupt. Sometimes you will just have been plain unlucky with your finances
  • Just want to restructure or consolidate your current loan(s) to better suit your budget

Refinancing may be a wise decision. It could potentially save you thousands of dollars in interest payments, fees and charges.

So how does refinancing work?

Essentially just like home loan refinancing. When you refinance your car, boat, bike, truck or equipment, the old loan is paid out in full and is replaced by the new loan. So you start enjoying the benefits of lower repayments immediately.

Am I am eligible for loan refinancing?

Our enthusiastic and knowledgeable staff can expertly assess your circumstances to determine eligibility.  But we do much more than that. We also do the loan shopping for you using our specialist knowledge to pinpoint the best options. We offer a wide range of loan products from banks and other lenders. So we are certain to find you a better loan solution. It’s that simple. Call First Lending Solutions today or apply online â€“ it’s the first step to saving thousands.

First Lending Solutions Rates

First Lending Solutions offers the best rates. See below
Car Loans
4.4% p.a
Truck & Equip. Loans
5.1% p.a
Bike Loans
6.35% p.a
Boat Loans
5.85% p.a

Our Loan Parameters

Permanent Bridge
Loan Amount $50K to $50M
(Can provide more than $50 MM on a case-by-case basis) 		$5M to $50M
(Can provide more than $50 MM on a case-by-case basis)
Primary Focus Stabilized properties in 80 Castro Financials Select markets in addition to larger primary and secondary markets Acquisitions, recapitalization of business plans that entail value-add, transitional or stabilized properties where additional seasoning or flexible prepayment is required
Debt Yield In-place debt yield of 7.5% & up Target minimum exit debt yields 8% to 10%
(depending on the property size and location)
Collateral First Mortgages First Mortgages
Pricing Fixed rates price over Treasuries
(Current Coupons range from 3.50% to 4.50%) 		Floating starting at LIBOR + 275 bps
Loan Term 5-10 years and up to 20 on a case-by-case basis 1-5 years including extensions
Maximum LTV/LTC LTV Up to 75%
(Up to 85%) 		Typically 80% of cost, and in
certain cases as much as 90% LTC
Recourse Flexible Flexible
Prepayment Flexible Minimum interest or yield maintenance
Amortization Up to 30 years with partial
or full-term interest-only available 		Generally interest-only, with amortization
structured on a case-by-case basis
Fees Origination Fees: 0-1% Origination Fees: 1%
Exit Fees: 1%