The loan application process is very simple, and borrowers are usually able to complete an online form within minutes. This option is ideal for consumers who feel uncomfortable with the pressure of face-to-face interviews with bank managers or land-based finance companies. However, logbook loans can also be secured through telephone call centres for those who prefer to talk to an agent directly.

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Mortgage Insurance VS Life Insurance
Mortgage Protection Insurance
No Medical exam-Mortgage Insurance.

Aurora Fixed Interest Rate Home Loan

Fixed Interest Rate Home Loan

Borrowers who choose fixed rate home loans can fix the interest rate for a specific period of time, from a few months to several years. Those with this loan will only need to pay the same amount of repayment every month for during that time.

When the fixed term expires, the borrower can fix another term or opt for a variable rate loan. The mortgage lender may charge a penalty fee if the borrower wants to renegotiate the loan. For example, change it into a variable rate loan during the fixed term or make extra repayments to save on interest.

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