We offer residential, rural or commercial property loans
or you may refinance an existing loan.
Property is likely to be the largest purchase you make. Midlands offers interest-only term loans at competitive rates with flexible terms and repayments based on a schedule to suit your needs.
Talk to us today to discuss your requirements.
INTEREST ONLY LOANS
Interest only loans enable you to make repayments that cover the interest based on a repayment cycle of your choice. If you are entitled to tax deductions on your interest payments, the entire installment can be deducted as there is no part of the payment that is reducing the principal amount of the loan.
TRANSFERRING A LOAN
We are happy to transfer a mortgage from one property to another, providing the new property can support the level of debt and you can continue to meet our servicing requirements. We are not legally obligated to allow you to transfer your mortgage but all reasonable requests will be considered.
COMPETITIVE INTEREST RATES
We offer floating interest rates, comprising a base rate plus a margin (based on our assessment of individual borrower and security risk); these rates are subject to our assessment of market forces and can fluctuate regularly.
Base Rates effective 14 August 2022:
Most loans considered by Midlands have terms ranging from 18 months – 3 years. Terms may be varied to suit your requirements.
For full fee schedule as of 1 February 2022, please click here.
Term loan FAQs
Midlands does not offer consumer credit (CCCFA) loans.
Get in Touch with Us
If you have any questions or would like to know more about Midlands and what we can do for you, please get in touch.