 |
Who does the Fast Property “turning renters into owners” program suit? |
| |
Our program is suited to people that would like to break the rental cycle and become home owners. Our customers may not wish to deal with Banks or Financial Institutions, or may not qualify for traditional home loans today.
Some of the most common reasons the bank may have turned them down are:
New migrants
Just starting a new job
Self employed or have irregular contractor work
Do not have a large enough deposit
Too young or too old
Social security income is not accepted
Have spotty credit history or no credit history at all
Have no savings history
Ex-bankrupt
With minimal paperwork and no lending fees, you can take control of your future and own your own home fast. |
|
Am I eligible for the Fast Property “turning renters into owners program? |
| |
Fast Property does not want to place you in any unnecessary hardship. We will need to see that you have been paying your rent comfortably and on time, and that you are making enough money to support your new home.
|
|
How much money do I need, to secure my home with Fast Property? |
| |
This depends on individual circumstances. The arrangements are tailor-made to suit you and your financial position.
|
|
When the property’s value increases, will my repayments increase? |
| |
Absolutely NOT! Fast Property has fixed the price of your house, as per the terms of your “Option to Purchase Agreement”. The price is locked in until you are ready to buy the property. This means, as the property increases in value, so does your equity.
|
|
What if interest rates change? |
| |
Your loan will have a variable interest rate. This means your payments will go up if the standard variable rate rises, or down if the standard variable rate falls. |
|
How long do I have to stay with Fast Property before I can refinance? |
| |
There is no minimum amount of time you must stay with Fast Property. Once you inform Fast Property that you will be refinancing to another lender, we will provide you with the relevant documentation to assist you. Fast property will provide you with regular repayment statements, so that you can show your new lender evidence of your payment history. |
|
How do I make my repayments to Fast Property? |
| |
Your total weekly repayments are made one week in advance, by direct debit. |
|
How do I know I can trust Fast Property? |
| |
There will be a legal contract between Fast Property and you. We encourage you to seek independant legal advice to ensure that you fully understand the agreement. We can also refer you to people we have successfully helped in the past. At Fast Property, we believe in building bridges, not burning them. |
|
Who pays the rates and insurance for the property? |
| |
As a home owner, you will be responsable for paying the rates and insurance for the property. These outgoings are covered in a small weekly payment to Fast Property. This is to help you avoid the hassle of bills arriving all at once. These amounts may vary yearly depending on your local council. |
|
What happens if I qualify for the First Home Owners Grants (FHOG)? |
| |
If you have never owned a home before, you may qualify for the First Home Owners Grant. You can contact the Office of State Revenue in your state, to find out if you are eligible. If you qualify, you may use this money to assist you to increase your equity in you home, by paying down the principal. |
|
I want to know more about the Fast Property "turning renters into owners" program. |
| |
Please call us at anytime for a friendly chat on 1300 00 fast (3278). We are here to assist you an welcome all questions. Remember, all information is obligation free. |
|
When I refinance to another lender, what will I need to pay to Fast Property? |
| |
To pay out your loan with Fast Property, you will pay the original fixed price of the house, less the principal already paid. |
