Home Loans with Accessible Line Of Credit
With this type of loan, you can access funds
up to your approved limit at any time. Your salary can be paid
directly into the loan account and you can access the balance
of the loan at any time - like a credit card. You can use these
funds to purchase shares, go on holiday, buy a new car, start
home renovations or so much more!
If you are interested in this loan the first
thing you should do is ask your Duckling Finance Consultant.
You should thoroughly check all the facts before committing
to this type of loan.
Advantages:
- Money is easily accessed by cheque or ATM
card linked to this loan. You can use it for living 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.
- A mortgage reduction programme can be helpful in managing
this type of loan. Ask your Duckling Finance Consultant.
Disadvantages:
- Ease of withdrawal means if you are undisciplined
this loan can get out of control.
- The interest rate is usually higher than Traditional Variable
Rate and Low Frills Loans.
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