Draw on your equity with this all-in-one loan.
All-in-one loan that combines income, savings and credit to give you the ability to draw on your home equity as you need, up to your approved loan limit.
Main Features
- Line of Credit.
- Additional repayments accepted.
- No Early Repayment penalties.
- No maximum loan amount.
- 30 year maximum loan term.
Offset Facilities
- Pre-approved Credit Card with a $5,000 limit.1
- More than one loan account available for different purposes such as share purchases, investment properties, etc.
Interest
Calculated daily and charged monthly in arrears.
Repayments
Repayments are not required. However, it is recommended that you make principal and interest repayments to reduce your loan balance.2
Loan to Value Ratio (LVR)
Maximum 90% of the value of the property (Lenders Mortgage Insurance is required for loans of more than 80% of the value of the property).
Security
First mortgage over owner-occupied or investment property.
- A $5,000 limit will be provided for eligible applicants, higher limits will be considered upon request.
- If at anytime the unpaid balance of the account exceeds the credit limit, you must immediately repay such amounts as is necessary to reduce the unpaid balance to the credit limit.