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Equity Loan

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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 $50,000 to $2,000,000
Minimum of $25,000 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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