‘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.
Special Benefits°
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We want to say 'thank-you' for choosing a Wide Bay Equity Home Loan! That's why we've decided to take some of the money that we might have spent on marketing and advertising and use it to give you some unique choices!
You can:
- 'get on your feet' by saving on interest and reducing your monthly payments with a discount 'start-up' rate for the first 12 months; or
- receive fantastic Holidays on the House Star Rewards with up to 2 years redemption at hundreds of Australian and international destinations - when selecting a standard variable or a fixed rate loan (of up to 3 years); or
Alternatively, if your new loan is over $150,000 and you select standard variable or a fixed rate (up to 3 years) you could also:
- take advantage of our special offer of up to $3000 cash - Our Cash Gift to You! - to use as you wish; or
- apply for a Home Options Package and obtain some great interest rate discounts, fee savings and other incentives on your home loan; line of credit; everyday banking account; term deposit; home building, home contents and car insurance and credit card.
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| Application Fee |
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Application Fee applies - discounts may
be available on additional advances requested by existing customers*** |
| Monthly Fees |
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A competitive monthly fee applies to new discount variable, standard variable and fixed rate home loans. Home Options Package customers are exempt from monthly loan account fees. |
| Interest Rate |
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Choose a discount variable for the first 12 months, a standard variable or a fixed rate (up to 3 years). Makes sure you check out the Special Benefits above. 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. View current interest rates now! |
| Terms |
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Principal and Interest: up to 30 years
Interest Only: up to 5 years |
| Repayment Flexibility |
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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” - offering you flexibility during lifestyle changes such as a career break, pregnancy or parental leave. |
| Paying off your loan sooner |
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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 |
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Unlike some loans – you can access any extra money you’ve deposited into your home loan*. Perfect for unexpected bills or extra money when you need it! |
‘Mortgage Muncher’
Interest Savings |
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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. |
| Visa Debit Card |
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This account qualifies you for an Account Fee exemption on our Visa Debit Account. |
| ‘smartlink’ Internet, Mobile and Phone Banking |
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Allows you to check your loan balance,
account history and send us secure emails |
Wide Bay Australia Ltd ABN 40 087 652 060 (Australian Credit Licence No: 239686) is the credit issuer. This is not an offer to lend - credit assessment criteria, terms and conditions & fees and charge apply - full details on application. Prior to entering into a credit contract with us you should read our Credit Guide (PDF, 74KB). Loans are only available to approved applicants offering security in approved property in Australia.
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Terms and conditions including eligibility criteria apply to these Special Benefits. For details read the relevant Terms and Conditions: "Holidays on the House"; "Our Cash Gift to You", "Home Options" Package.
This loan is only available through Wide Bay Australia branch network and is not available to applicants introduced by third parties where Wide Bay has paid brokerage or commission.
*A fee may apply for this benefit - minimum amount $1000.
***Subject to qualifying criteria – details on application.
