Home Loan Products

The content below provides a brief overview of each type of product. Should you have need for further details and information and would like to compare one Lenders' products to another Lender then please contact us for one of our qualified Personal Bankers to contact you and/or visit for a consultation.

100% Offset Home Loan

Our 100% Offset Home Loan has a Savings Account attached to it. It puts you in control. It combines a fully featured home loan with all the benefits of a 100% offset savings account and lets you see at a glance what you owe and what you own because the offset balance is shown separately. The Savings Account is a transactional account. The best part is that interest charges are calculated by applying the interest rate to the net balance (loan amount less offset balance) each day.

Line of Credit

The Line of Credit includes a home loan which incorporates the features of a transaction account. There are two target markets for this type of home loan:

Principal & Interest
This Line of Credit option is with a reducing credit limit. This means the borrower has the use of a transaction account while the home loan limit reduces. If the account is operated correctly and repayments/deposits exceed withdrawals the home loan is usually paid off sooner than a standard term home loan, saving you years on your loan term and thousands of dollars in interest.

Interest Only 
The interest only option on the Line of Credit account gives you access to the full limit of the loan for the interest only period. This option is preferred by investors. By using the equity in your home or existing property the funds can be used for further investment in property, shares or other personal uses. There are Line of Credit products where the interest only term is for the life of the loan while others may be interest only for up to 10 years.

Line of Credit - Property Line

We do have a Lender which has this product, generally for the more sophisticated property owner that is confident with arranging his financial affairs.

This product allows you to manage your investment properties or multiple loans with this line of credit product, and make interest-only repayments for the first 10 years before principal and interest repayments are required. Up to 4 sub-accounts are available under one global limit, which transfers available credit where needed. This makes more funds available for investment as personal debt decreases.

Use a Property Line for the purchase or refinance an owner- occupied or investment property, debt consolidation and home equity loan.

Credit Cards

Many loan packages come with a Credit Card facility with special pricing and other reward programs. Our range of products include many options here and because of the complexity of each Card it is best to have one of our qualified Personal Bankers explain the benefits of each to you so you may choose the best Card for you.

Most importantly, now that you know about the availability of Credit Cards and their potential benefits you will not miss out, so be sure to question your Personal Bankers.

Term Loans

Principal & Interest

A standard term loan option that offers principal and interest repayments for the full term of the loan. Interest rate flexibility allows you to have a fixed or variable interest rate, and you can also split your loan.

Interest Only 

Ideal for investors, this option allows you to have up to 10 years interest-only repayments before principal and interest repayments are required. Fixed and variable interest rate options are available.

Low Doc

100% Offset Home Loan, Term Loan or Line of Credit

The Low Doc (sometimes called Lo Doc) means minimal supporting documentation verifying your income is required with this type of loan application. Persons finding it difficult proving their income, yet they can afford the loan, use this type of loan. It does usually come with higher fees, interest rate and some restrictions.

When you combine your Home Loan with our Low Doc package no proof of income is required. Just complete and sign an income declaration form with the standard Home Loan application. This saves you the hassle of working through payslips, tax returns and other documents when applying for your loan.

Principal & Interest and Interest-Only options with fixed interest rates and variable interest rates are available.

Construction/Building Loans

Building Loans are available as a Term Loan with several flexible options:

1. Fixed or variable interest rate options
2. 100% Offset Home Loan
3. Lo Doc Term Loans
4. Go-between (bridging finance) Loans

Building is generally completed in several stages. Once a stage is completed, the builder will issue an invoice. If the stage has been completed to your satisfaction, you will authorise us to pay the builder. This means the loan is drawn in stages through progressive payments. The builder will issue you with approximately 5 invoices during the course of construction. Prior to making a payment to the builder, we may confirm the works claimed are completed.

Go-Between Loans (Bridging Finance)

A Go-Between loan offers you an easy way to purchase a new home before you sell your existing one. Rather than needing to make two sets of loan repayments throughout the transitional period only repayments on the existing loan are required. There are no repayments required on a new home loan as these repayments (i.e. interest only portion) is added to the new loan.

Often there is a fear that bridging finance is expensive but that is not the case these days. Special rules and provisions apply and it is best to discuss these with one of our qualified Personal Bankers.

 

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