Personal & Residential Loans

What it is:

Loans provided to individuals for personal purposes or buying / improving residences. Under residential, includes home loans / mortgages. Under personal, includes unsecured or secured loans for other personal needs (home renovations, appliances, etc.).

Brokered Loans: “We can assist you in comparing home loan options across our panel of lenders. Rates and fees vary depending on lender assessment and your individual circumstances.”
Mortgage Manager Loans (Non-Bid / Funded Products): “Our mortgage manager products are available from selected funders. Each loan is pre-packaged and subject to funder assessment and eligibility. We provide guidance on the features, fees, and terms of these loans so you can make an informed decision.”

Pros:

Enables major purchase (home) which most people can’t pay for outright.
Lower interest rates on secured loans (for residential/home).
Long repayment flexibility.
Builds equity (in property) or helps improve credit if payments are timely.

Cons / Things to watch:

If secured, risk of losing the property (or other collateral) if repayments aren’t met.
For residential/home loans: downpayments required; property valuation, legal fees, etc. add cost.
Unsecured personal loans: higher interest; stricter eligibility; more risk if missed payments.

Flexible loan options for buying a home, renovating, or funding personal needs with confidence.

Feature	Details
Secured vs Unsecured	Residential loans are typically secured by the property. Personal loans may be unsecured or secured (e.g., using an asset as collateral).
Interest & Rates	Secured residential mortgages tend to have lower interest rates (lower risk to lender). Unsecured personal loans have higher rates because there’s more risk.
Repayment term	Residential mortgages often have long tenures (many years), whereas personal loans are shorter (few months to a few years).
Amount	Residential loans tend to be for large amounts (value of property), while personal loans are smaller.
Purpose & Uses	Buying a home; refinancing a home; renovating; sometimes buying land; personal emergencies; debt consolidation; lifestyle needs (travel, etc.).

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