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Our award-winning mortgage brokers will find you the right home loan for your situation.
What are bank bill facilities?
A bank bill facility is a loan that is linked to the bank’s cost of funds. Specifically, your loan will have a margin above the Bank Bill Swap Bid Rate (BBSY) interest rate at which the bank borrows money.
Your customer margin is determined by the size of your loan and the overall risk of your application. Your interest rate is rolled over every 30, 60, 90 or 180 days and at each rollover your interest rate is reset to the current cost of funds plus your margin.
Why are they cheaper?
With a bank bill facility you are taking the risk instead of the bank. If the money market has a spike in interest rates, your bottom line is affected not the banks.
Effectively, you are going wholesale and the bank is charging you a margin for them giving you access to this funding, managing the loan and taking the risk of default.
In addition to this, features such as offset accounts aren’t available. They’re no-frills loans.
What is a rollover?
When your 30, 60 or 90 day term has ended your facility is rolled over to the new BBSY rate at that time plus your margin. Effectively your old loan is repaid by a new facility which the bank has sourced on the money market.
Be aware that your interest rate can change and that some lenders will charge you a rollover fee.
We’ve lent more than $1 billion+ Australia-wide.
They walked us through the process step by step
We would like to say thank you to Hank from Home Loan Experts for all his help in getting us a guarantor loan.
We were really unsure if we would ever get an approval for a home loan, but Hank immediately knew the right lender to approach for our situation, and made the whole process simple…
We would definitely recommend Home Loan Experts to anyone. Thanks again to Hank and the team from Home Loan Experts for making it possible for us to own our first home.
Ianthe S & Jadobi l, Carina QLD
A very friendly, professional and helpful team
The team was very friendly, professional, helpful and went out of their way to get the right loan that was suitable for us… I recommend this service for those who find it very hard to purchase a property going directly to a bank. Thank you Home Loan Experts, you have finally given my family and me the opportunity to own a beautiful home.
Denise H, Epping VIC
A lot smoother and less stressful than having to deal with banks as an individual
Our mortgage broker was very personable and made us feel like he went above and beyond to assist us in getting our home loan. He had a great knowledge of guarantor home loans which set our minds at ease. He was happy to answer any questions even outside business hours and responded in a professional and timely manner. As a second home buyer I would recommend going through the home loan experts as this process was a lot smoother and less stressful than having to deal with banks as an individual. I would especially recommend Hoa to others.
Melissa H & Rhys B, Wynnum West QLD
Exceeded my expectations in terms of results
Throughout the process I felt confident in knowing I could rely on you and at no stage did I ever feel that trust could be an issue with you. You have exceeded my expectations in terms of results and have done this with very short notice. You are an asset to your company and a role model to your profession… I already have and will continue to recommend your services to friends and family.
Thomas M & Tanya W, Botany NSW
So easy to speak to no matter how stressful the situation
We are both so grateful to Amine for all of his hard work and great advice over the past year! It’s been such a long journey… We are starting to settle into our new home in Trentham now. It is just so beautiful and relaxing! We really love it and are so happy with our purchase. Amine was right all along – things happen for a reason! Thank you Amine for always being there for us.
Tanya & Andrew B, West Melbourne VIC
He even made a guarantor loan from our parents seem effortless!
After the roller coaster ride of going cap in hand to the bank manager, only to be turned away… we found Tony. What a refreshing change! Within a 2 week time frame, we had approval and were able to follow the normal approval process to get the loan…. With Tony’s inside knowledge on how lenders think he was able to approach the bank with an excellent case and really put us in a great position in the lender’s eyes…. We recommend Tony and Home Loan Experts strongly and will be using them for our next purchase…
Julie W & Luisa C, Waikiki WA