Product Features Explained

HomeLend offers a wide range of products with a variety of features to suit your needs. We are pleased that we may now offer a 100% offset loan to help you save on your interest payments, as well as free electronic redraw (min $500) enabling you electronic access to your excess repayments.

100% Offset

Our HomeLend 100% Offset Home Loan puts you in control. It combines a fully featured home loan with all the benefits of a 100% offset account, and allows you to see at a glance what you owe and what you own because the offset balance is shown separately. The offset balance accrues interest at the loan rate and reduces the interest payable on the loan. This means that you are not charged interest on the part of the home loan that is equivalent to the offset balance on any given day. With a 100% Offset Home Loan, funds in the offset balance can be accessed through ATMs, Online Banking, Express Line and other standard means.

Redraw

Whether it’s for a holiday, new car or even home renovations, our free electronic redraw facility (min $500) gives you instant access to your additional home loan repayments whenever you need them.

Features include

• Available 24 hours a day, 7 days a week
• Available on any owner-occupied or investment loan, including:
  • Interest only
  • Principal and interest
  • Fixed rate
  • Variable rate
• Minimum redraw amount $500

Variable Rates

Choosing a variable rate gives you the flexibility to take advantage of interest rate decreases as repayments and interest charges change with the market.

• Competitive variable rates
• Unlimited additional repayments without penalty
• Free electronic redraw (minimum $500)
• Loan to Valuation Ratio (LVR) up to 95% (subject to Lenders Mortgage Insurance), plus capitalised Lenders Mortgage Insurance

Fixed Rates

Choosing a fixed rate gives you the peace of mind that your home loan repayments will not change over the fixed period.

Our fixed rate loan options include:

• 100% offset
• Competitive 1 to 5 year fixed rates
• FREE rate lock for up to 14 days from full application and up to 90 days from contracts issuing
• Additional loan repayments up to $20,000 p.a. accepted without penalty
• Free electronic redraw (minimum $500)
• Loan to Valuation Ratio (LVR) up to 95% (subject to Lenders Mortgage Insurance), plus capitalised Lenders Mortgage Insurance
• $0 to refix or convert to a variable rate upon expiry of your fixed rate term

Lo Doc

HomeLend Lo Doc loans do not require you to provide supporting evidence of income. This saves you the hassle of working through payslips, tax returns and other documents when applying for a home loan. Lo Doc suits self employed and in some cases PAYG borrowers.

Bridging Finance (Go Between)

A HomeLend Go-Between loan offers you an easy way to purchase or build a new home before you sell your existing one. Rather than needing to make two sets of loan repayments while you are selling your existing home, no repayments are required on the new home loan during the Go-Between period (interest capitalises during this time).

Split Option

A split loan enables you the flexibility to combine the advantages of:

• Fixed and variable rates
• Interest only and principal and interest repayments
• Owner-Occupier and Investment loans

Home Investment

Our investment loans are suitable for borrowers looking to purchase or refinance property for investment purposes. Our range of investment loans includes all variants of our Term Loans and Line of Credit accounts.

Building Loans

Our building loans are designed for owner occupiers or investors looking to construct residential property. They allow the loan funds to be progressively released as each stage of construction is completed.

Building loans are available on HomeLend term loans, with several flexible options:

• Fixed or variable interest rate options
• Lo Doc Term Loan
• Go-Between