Equity Loan |
Printable Version |
An ideal loan if you want to convert the equity you have in your current home into funds to use for other purposes such as share investments, another property or even renovations to your existing property.
The Equity Line of Credit could be the perfect loan if you require:
- Access to equity in your own home
- Access to funds for wealth creation or personal purposes
- Self employed with fluctuating cash flow
Equity Loan Features *
Our Equity Loan is packed with flexible features. Here are some of them…
| Loan Amounts |
$50000.00 to $2000000.00 Minimum of $25000.00 in combination or split. |
| Interest Rate Type | Variable rate only |
| Term | Evergreen (no set term) |
| Repayment Type | Interest Only. Interest can capitalise to 100% of loan limit |
| Combinations and Splits | Can split up to 4 accounts (will consider more) or combine with Fixed Rate Loan or Advantage Rate Loan |
| Repayment Options | Direct Debit either monthly or fortnightly Salary crediting Internet or telephone transfers from pre-nominated account for additional repayments Deposit at Westpac, Challenge & Bank of Melbourne, via pre-encoded deposit slip |
| Additional Repayments | Allowable with no limit |
| Redraw Facility | Cheque book, with no minimum redraws via Internet or telephone banking to pre-nominated account |
| Withdrawals | Chequebook and Internet or telephone transfers from pre-nominated account for additional repayments |
| Salary Crediting? | Yes |
| Ability to Switch | Can switch all or part of loan limit to another product |
| Statement Issued | Monthly |
| Other Fees | No account keeping or on-going fees. $1.50 for over the counter deposits and $1.50 for cheques used in excess of 5 per month |
| Substitution | Can substitute security within loan limit |
* While we have taken all reasonable care in producing this information, we do not promise that it contains all the information you need to answer all your questions. All product details, interest rates, terms, conditions and other information may change at any time without notice.
Call us now to speak to one of our experienced home loan professionals and we will work out how much we can SAVE you by doing it the NEW WAY! Or Click here to apply for your Equity Line of Credit right now.
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News
- Firstfolio on the march
January 7, 2010 | 8:21 pmFirstfolio Limited, parent company of myloanmyway, kicked off 2010 having completed three acquisitions of home loan groups and signed off on a major distribution deal.
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