Line of Credit Loan
A fully flexible loan with a cheque book facility to allow unlimited access to your funds, for either owner-occupiers or investors. No ongoing fees.
How much can I borrow?
- 80% LVR, for up to $750,000
- 65% LVR, for up to $600,000
- Minimum loan amount $50,000
Interest Rate
- 7.53% p.a. with a comparison rate of 7.56% p.a.
- Variable, with a separate fixed rate option by splitting the loan
Repayment Options
- May be interest only for 30 years
- Direct debit authority or Direct salary crediting
- Your choice of weekly, fortnightly or monthly repayment options
- Repayments may be capitalised on request for free, where the entire facility is less than 75% LVR
Term of Loan
- Up to 30 years
Ongoing Fees and Charges
- Nationwide charges no hidden or ongoing fees
- No monthly, annual or any ongoing account keeping fees
- Unlimited free transactions per month including redraws
- Free loan splitting to fix interest rate on part of your loan
- Free lump sum repayments whenever you like, except where the loan is fixed
- Free internet and phone banking access
Fees and Charges to Set Up the Loan
- $240 for Valuation, subject to property and location
- $490 for Solicitor’s legal fee plus disbursements
What are the redraw conditions?
- Redraw accessible through your choice of Cheque book (upon request), Internet, Phone, BPay, Direct Debit by Fax or Written request