Line of Credit Loans

Line of Credit Loans are interest only variable rate loans that allow you to borrow against the equity in a home with the added flexibility of a transaction account built into the loan. It's just like a really big credit card which is secured against your home and charged at home loan interest rates.

A line of credit is the best option if you are looking for a mortgage reduction loan. Some of the reasons for this are:

  • Line of Credit gives you easy access to funds
  • With a Line of Credit the purpose of a withdrawal is unquestioned.
  • Line of Credit gives you Eftpos & cheque book convenience
  • With a Line of Credit there is no early payment penalty
  • There is no set term to a Line of Credit.
  • A Line of Credit is transferable - If you decide to buy a new property the Line of Credit can be moved over to the new home.
  • Line of Credit gives you extra Investment Opportunities
  • Line of Credit gives you Tax Savings

Frequently asked questions from our clients regarding Line of Credit loans:

Question:

Who can access Line of Credit facilities?

Answer:

Line of Credit facilities can be used for Owner occupied, investment or business purposes.

Question:

What kind of repayment options exist for Line of Credit facilities?

Answer:

Interest only for the first 15 years (called the Revolving Credit Period). Principal and interest for the remainder of the loan term.

Question:

Can you split into various accounts a Line of Credit loan?

Answer:

You can have up to 4 separate loan accounts under one facility.

Question:

What sort of security is required for a Line of Credit?

Answer:

Usually 1st registered mortgage over a residential property is required as security.

Would you like to find out more about Line of Credit Loans?

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