Simplify | Inform | Implement

First Home Buyers

Buying your first home doesn’t need to be daunting. At Ike Finance, we can guide you through the process with ease, helping you move in sooner, by taking out the stress out of the process. We offer several mortgages to suit your needs.

Your Option As

First Home Buyer

Variable Loans

  • Almost all the Lenders provide two types of variable loans: Basic and Standard; standard being the product with more features such as extra repayment, offset and redraw facilities and split loan options.

Variable rate mortgages are the most popular home loans in Australia; however, fixed-rate loans still make up a sizeable chunk of the market. There’s no definite answer about which type is better. It will come down to your needs, financial situation and the economic climate and property market.

  • Some lenders like Mortgage House, provides two types of variable loans: basic and standard, standard being fuller featured with extra repayments, offset facilities, and split loan options.
  • You can often make fee-free extra repayments, meaning you’ll pay off your mortgage faster and incur less interest.
  • Likewise, with features like offset and redraw you also have the option to reduce the interest you pay over the life of your loan.
  • Variable rates are often easier to refinance than fixed rates, meaning if your loan does not serve your needs, or there is another loan product that provides bigger advantages or lower interest rates, you may be able to swap without much fuss.


  • Variable rates can increase, meaning your repayments will go up as you will pay more in interest. You will have to budget for this and ensure you can keep up with the higher repayments if the rates go up.
  • You may think the extra features you get will be beneficial to you, but this may not always be the case. There are many useful features, but you must research those that your Lender is offering you to ensure you are going to use them.
  • You may find it hard to budget as your mortgage repayments will fluctuate. Your repayments may increase, and you might find these eats into your family budget leaving little room for planning holidays or other big-ticket expenses.

Fixed Loans

  • If you need stability and to manage your loan repayment without sudden changes in rates, then Fixed Interest Rate is your option

Fixed rate home loans have an interest rate which remains constant or fixed for an agreed period, usually up to 5 years, though some Lenders may do a fixed rate for up to 10 years. Generally, a fixed rate may be higher than the variable rate available so it’s best to weigh up both the advantages and disadvantages.

  • Fixed rates give you certainty – you’ll know that your mortgage repayments will stay the same for an agreed amount of time. This means that if your financial circumstances remain the same or improve, you are guaranteed to be able to pay your mortgage for the duration of your fixed term.
  • Your interest rates will not go up with the rest, meaning you do not need to worry if the market rates are going up – your payments will remain the same.
  • Knowing your repayments will not rise or fall, makes it easier to budget for repayments without getting caught off-guard with any rate hikes.
  • If interest rates start to decrease, you won’t see this in your own repayments. It may be frustrating to see others saving with their lower rate while you’re not.
  • Many fixed-rate loans provide less flexibility, meaning useful features like offset accounts, which help you pay off your loan faster, may not be included.
  • Fixed rate loans can often incur higher switching or exit fees, so refinancing can be costly, and sometimes not worth it when you compare what you would save with the amount it would cost in fees.

Construction Loans

  • Do you want to design your own home and have a licensed Builder to build it for you? A Construction Loan is your answer.

One of the most popular kinds of home loans available to those who build a house is a construction home loan. A construction home loan is like a regular loan. Interest rates don’t work any differently, with both fixed rate loan and variable rate options, and the fees and charges are also likely to work the same way. But there is one significant feature that makes construction home loans attractive if you’re planning to build a house. A construction home loan allows you to stagger the payments to your builder, once agreed development stages have been met. This is important because you will only be charged interest on the amount you have paid out, a feature that can save you money. Once your home has been built, the loan will revert to a standard variable home loan. A construction home loan is available to owner-builders – those who build a home on their own block of land – or a registered builder.

  • Funds will be paid to you in drawdowns ensuring you only pay interest on the portion of the mortgage you have used.
  • Option to make interest-only payments for the land portion prior to and during the construction process.
  • You have up to 24 months to complete construction after settlement of the land, giving you the chance to plan things out.
  • The loan may be split between two accounts after construction is complete to identify personal and investment debt.
  • If you’re an owner builder, the maximum loan-to-value ratio will be 50%.
  • Funds are released only at predetermined stages after proof of work has been established.
  • There can be a few terms and conditions, including having council-approved plans and a fixed price tender at time of application.

Things Worth Remembering

That last point is one worth remembering. With regular loans, you may be able to secure pre-approval for your home loan based on the likely amount you will pay for a home. However, construction loans can come with a few more terms and conditions. None of them are arduous, but they are worth noting. The main one to note is that when you apply for a construction loan, the bank or lender will want to see you already have plans that have been approved by the local council, and you have a fixed-price contract for your new property. It is always good to demand a fixed-price contract when you build a home. Not only can it help you with your construction loan application, but it can also ensure there are no hidden costs and overruns as you get further into the build.

Split Loans

  • A Split Loan allows you make part of your loan Variable and part Fixed, which means you can have both Variable & Fixed Interest rates at the same time. For example, you can choose to have 50% of the loan in a Variable rate and the 50% in a Fixed rate product.

There is a third option which gives you the best of both. A Split Loan allows you to make a portion of your home loan fixed, and a portion variable. You can select the percentage of your loan that you want fixed, and the remaining portion will be variable.

It’s extremely difficult to predict which option will benefit you most, you must decide based on your financial situation.

Understanding fixed and variable costs and how they will benefit you personally will help you in your search for a great home loan that will work for you for years to come. You must ensure you can pay your mortgage even if interest rates increase, as fixed rates do not last forever, and variable rates can fluctuate up and down. If you are still wondering which is best for you, or want to learn more about Split Home Loans, please feel free to speak with one Ike Finance Specialist Team Members.

Please feel free to contact one of Ike.Finance Home Loan Specialists for assistance.

Take the following steps!


Review Your Existing Home Loan Every 2-Years:
If you’ve decided to refinance an existing property, you’ll need to take a look at a few things such as the terms of your current loan including interest rate, maturity rate, and type of loan, as well as the equity you have in your property.
A home loan health check will look at all these things and help you to identify if your current home loan is still working for you and meeting your requirements.
A home loan health check can be performed with an Ike Finance Home Loan specialist in person or over the phone in as little as 20 minutes. They can advise the best competitive rate available on the market the meets your objective.


After you determine the amount of equity you have in your property, we’ll introduce you to the wide range of products that we have available. You’ll have flexibility, security and a product designed to suit your needs.

After a preliminary meeting with a Mortgage House Home Loan Specialist, we’ll be able to provide pre-approval of your loan and help you move ahead with your plans.


Save on your Refinance
You have options with Ike Finance Team. We can help if you are looking to:
• Save money on your current interest payments by refinancing at a lower rate
• Consolidate your existing personal debt into one, lower-interest home equity loan
• Upgrade a room in your home

We’re here to advise you and help you make the right choices about your financial future. Our Home Loan Specialists will make the refinancing process as smooth as possible.


The mortgage that helped you purchase your first home may not be the best option, five, ten or twenty years down the track. As your lifestyle and financial circumstances change, it will be necessary to review your home loan to ensure you’re getting the best deal.

Refinancing involves switching your home loan for a more suitable product that will suit your changing needs or to take advantage of a better rate and lower fees. While it may seem easier to keep your home loan where it is, complacent borrowers could miss out on thousands of dollars and prolong the life of their loan.

Comparing the entire range of mortgage products on the market is daunting, but with the help of our Ike Finance Home Loan Specialists you can ensure refinancing gives you a product that suits your exact needs and a better rate.

Investor Home Loans

With a growing population comes development and consolidation, making investing in real estate a potentially lucrative venture. The right investment can generate income and provide significant profit when the property value increases. Your strategy should be backed by a financial product that suits your goals and needs, whether you are looking to purchase your first investment property or adding to an established portfolio. In every case, Ike Finance has access to about 30 Panel Lenders with products for you.

2ND Home Buyer

If you have built up equity in your current home and are considering becoming a second home buyer, you have plenty of loan options to make a smooth transition. With Mortgage House experience and flexible loan products on your side, becoming a second home buyer is easier than you think.

As a second home buyer, what home loans are right for me?

This is where your experience in previously purchasing a home will come in handy. If you have been paying your present mortgage for a few years or more, you will have noticed variable interest rates fluctuate over time, plus the opportunities that both variable and fixed interest rates provide. The temptation to change from fixed to variable interest rates, or vice versa, will arise at times, and knowing when to make a financial move is good money management. Here are just a few second home buyer factors worth considering:

Your Ike Finance Home Loan Specialist will explain the relative home loan advantages in easy to understand manner. We have access to Australia’s biggest banks, allowing you to choose a fixed rate, variable rate, or another loan option. You can also do a bridging loan products that are perfect for second home buyers.

If you have found your perfect second home and are ready to snap it up, but are waiting to sell your current home, a bridging loan is an ideal solution. Bridging loans are interest-only loans, backed by the financial collateral of both your current and future home. It’s worth understanding that you will be paying the interest portion of the two loans until your current home sells, so budgeting will be important. Your Ike Finance home loan expert is always on hand for advice and assistance that will help you purchase your second home for the right price.

Types of Investor Home Loan Options

Flexibility is important when it comes to investment loans. We have several variable rate and fixed rate mortgage options in our investor home loan portfolio. With a variable rate home loan, interest repayments can increase or decrease during the loan repayment schedule, with a range of factors influencing interest rate fluctuations.

  • Business Loans
  • Car Loans
  • Unsecured Personal Loans

Business Loans – Solutions for Small Business Owners

Pay Suppliers Fund Customer Invoices Business Overdraft
Purchase stock and pay any business expense including ATO and repay over several months.
Accelerate cashflow and access funds tied up in slow paying customer invoices.
Flexible access to working capital to manage cash flow. Draw funds whenever you need them directly into your bank account for wages, purchases, projects.
Access additional funds up to your limit at any time, no minimum periods between drawdowns.
Fast, Simple Application Process
Same-day Approval – approvals and funding available within 24 hours.
Flexible Repayments – Select the repayment amount and term that suits your business cashflow.
Same-day Approval for your business.
A facility That Grows with You – Your facility grows as your business grows. The more work you do, the more access to capital you have.
Same-day Approvals – approval and funding available within 24 hours.
Cashflow Confidence by bridging the cashflow gap between paying suppliers and being paid by your customers,
Choice and Control – This is what every business owner wants. Choose which invoices to accelerate, select single or multiple invoices. The choice is yours to make.
Redraw Anytime – Revolving line of credit available to draw anytime you need it.
All Purpose Supplier Finance – Pay Rent, ATO Tax Debt, Super Obligations & Supplier Purchases.

Car Loans

Personal loans of all sorts. Whether you need to refinance your existing loan; consolidate debt; upgrade your car; or simply make something happen sooner, we’ve got a loan to help

Unsecured Personal Loans

Tools and Calculators

Calculators, planners and tools to help you better manage your money.

  • Property_Buying_Cost_Calculator
  • Loan_Repayment_Calculator
  • Stamp Duty Calculator