| Type of Loan |
Home Loan Information |
| > Reducible Mortgage Loan |
Principal and interest housing loan with fixed/variable rate options throughout the term of the loan. Borrowers can choose a one off special Introductory Fixed Rate for the first 1 or 2 years of the loan or lock into a longer fixed rate term of up to 5 years. When any fixed rate period ends the loan will automatically convert to the variable rate or borrowers can choose to enter into a further fixed rate period. |
| > Offset Home Loan |
The HomeSide Offset Home Loan is a principal and interest loan account which links an everyday transaction account (Deposit Offset Account) to a HomeSide loan (Offset Home Loan). The balance of the transaction account is used to 100% offset the equivalent balance of the loan account for the purpose of calculating interest on the loan. This reduces the interest payable on the loan which reduces the term of the loan. Borrowers retain unlimited access to money in the transaction account via cheque book and FlexiCard. |
| > Plain and Simple Home Loan |
The HomeSide Plain and Simple Home Loan is a 'no frills' variable rate housing loan. Borrowers may elect to take a principal and interest repayment arrangement for the life of the loan or may choose an interest only option for the first 5 years of the loan. |
| > Fixed Rate (Interest Only) Mortgage Loan |
The HomeSide Fixed Rate (Interest Only) Mortgage Loan is an interest only loan for residential investment properties where the interest rate is fixed for the period of the loan. Fixed Rate Mortgages can be of two types: interest charged monthly in arrears or interest charged annually in advance. |
| > Peak Performance Equity Mortgage Loan |
The HomeSide Peak Performance Equity Mortgage is a flexible overdraft with a variable interest rate designed to meet borrowers' total financial requirements with one facility.The Peak Performance allows borrowers to turn 'asset wealth' into affordable money to use as they wish for a number of purposes including investment, new car, holidays etc. |
| > HomeSide HomePlus Package |
HomeSide HomePlus consists of a Home Loan, optional Deposit Offset Account and the choice of a Gold Visa or Gold Mastercard, providing maximum flexibility and value to the borrower. |
