Our Equity Loan Package is a line of credit account secured by your residential property. It allows you to access equity available on your home for a variety of purposes, such as extending the family home (renovations), purchase items such as a car or caravan, or even an extended holiday.
| Features | Fees & charges | Overview | ||
|---|---|---|---|---|
| Minimum loan amount |
$50,000 | |||
| Maximum borrowings |
Up to 80% of the value of property offered as security. |
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| Maximum loan term |
30 years |
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| Loan type |
Line of credit |
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| Split loan |
Yes. You have the flexibility to split your loan to best suit your needs. |
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| Additional repayments |
Yes. Pay off your loan faster and save on interest. |
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| Redraw facility |
Yes. The ability to access your additional loan repayments is a feature of the line of credit or equity facility. |
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| Repay loan early |
Make additional payments and redraw on the variable portion of your loan. |
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| Loan portability |
Yes. |
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| Establishment fee |
Nil |
No separate establishment fee applies. |
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| Annual fee |
$375 |
Yes. Annual fee will be charged when your loan commences and on the anniversary date thereafter. |
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| Monthly fee |
Nil |
No. No monthly account-keeping fees. |
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| Ezepay account |
Yes. Available as part of our Equity Loan Package. |
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| Visa credit card (optional) |
Yes. Option to choose from a Visa Gold or Silver credit card. |
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