‘Equity’ Home Loan
Equity is simply the value of the part of the home you own. So whether you own your home entirely, or it is partly mortgaged, your equity is a valuable asset which may be used to help you achieve your goals.
You could use your equity to finance a loan:
- For home improvements or extensions
- To buy a new car or boat
- To take a well deserved holiday
- To pay for your or your children's education
- For business and investment
- For any other purpose
As Home Equity Loan interest rates are generally lower than personal loan interest rates - payments on your loan will be more affordable.
| Application Fee |
|
Application Fee applies - discounts may
be available on additional advances requested by existing customers*** |
| Monthly Fees |
|
There are no monthly account keeping (or annual administration fees) for variable rates. A competitive monthly fee applies to fixed rates. |
| Interest Rate |
|
Choose a standard variable rate and apply through a Wide Bay Australia
branch you’ll qualify for Wide
Bay Holiday Star Rewards#. Alternatively a discount start up rate
is also available for the first 12 months or you can select a fixed
rate (up to 3 years). Switch between variable and fixed rates* whenever
you want to without having to change loans (as you might have to do
at some banks). Interest is calculated daily and charged monthly. |
| Terms |
|
Principal and Interest: up to 30 years
Interest Only: up to 5 years |
| Repayment Flexibility |
|
Choose from weekly, fortnightly or monthly repayments to suit your
income stream. Paying more frequently or paying additional amounts
can help you pay off your loan quickly – try our extra
repayments calculator?! There are many repayment
options.
Get ahead on repayments and you can have a repayment “holiday”! |
| Paying off your loan sooner |
|
More frequent payments, larger repayments, lump sum payments, and Mortgage Muncher 100% offset savings are all allowed and can help you cut down on your interest and help you pay out your loan years earlier. Check out our calculators to find out how much you can save. |
| Redraw |
|
Unlike some loans – you can access any extra money you’ve deposited into your home loan*. |
‘Mortgage Muncher’
Interest Savings |
|
Every dollar of your pay or savings deposited into
this account means you save an equivalent
amount in interest (and unlike most banks even on
fixed rate loans!). That means you can save on
interest and pay out your loan quickly. Use our lump sum or regular deposit calculators to find out how much you could save. |
‘smartlink’ Internet and
Phone Banking
|
|
Allows you to check your loan balance,
account history and send us secure emails |
| ‘Wide Bay Holidays’ Star rewards |
|
Pack your bags because we’ll send you on a free holiday! To say thanks for choosing a Wide Bay Australia home loan we’ll give you Star rewards# points which may be redeemed for accommodation and attractions at over 200 destinations in Australia and overseas! Find out more! |
This is not an offer to lend - all loans are subject to terms and conditions. Fees & charges are payable. Full details are available on application. Loans are only available to approved applicants offering security in approved property in Australia.
# Wide Bay Holidays available on Standard Variable rate only and not available to applicants introduced by third parties where Wide Bay has paid brokerage or commission - full details of qualifying loans are contained in the Terms and Conditions at www.widebayholidays.com.au.
*A fee may apply for this benefit - minimum amount $1000.
***Subject to qualifying criteria – details on application.
