FAQs - Home loans

Check out some of the most popular questions and articles about our Home loan products.

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A offset account is a transaction account which is linked to your loan and also helps you reduce the interest you pay. Your loan account balance is reduced by the balance of your offset account for the purpose of calculating interest. For example, if you had a loan balance of $25k, and $10k in your 100% offset account, you would only pay interest on $15k of your loan balance.

Absolutely! If you like the certainty of fixed repayments, but also want the flexibility that a variable product provides, then chat to us about splitting your home loan, so it’s right for you. Plus you can decide how much is fixed vs. variable.

How does it work? If you’d like to borrow $250K in total, you can choose to take out two smaller loans, which equal the total loan amount. For example, you might decide to fix $150K and keep $100K as a variable loan. Your fixed component will provide you with certainty should interest rates rise. On the other hand, your variable loan will give you the flexibility to pay off your mortgage faster. Call us on 1300 132 249 or contact us to find out more.

If you’re dealing with any financial hardship, get in touch with us. We’re here to help. You can read more about how to make a financial hardship request here.

If you’re over the age of 18, plus a citizen or a permanent resident of Australia, you may be eligible to apply for a home loan. Other eligibility, terms and conditions may apply.

Much like other financial institutions, there’s a range of factors we take into consideration when we’re setting our lending rates. However, as a mutual credit union, we do not rely on the cash rate set by the Reserve Bank of Australia (RBA) to set our interest rates. We use the money our members deposit with us to fund our lending portfolio, so the RBA cash rate serves as more of an industry benchmark and isn’t directly influential. We always strive to find an equitable balance between our depositor members and our borrowing members.

Unlike banks, we reinvest our profits back into the Credit Union to provide better products and services, so we can continue to offer competitive rates to both depositing and lending members.

There are a few simple ways you can apply for a home loan:

  1. Apply online,
  2. Call us on 1300 132 249,
  3. Visit your local branch, or
  4. Arrange an appointment with one of our mobile lenders.

Your borrowing power relies on a number of different factors, like how much of a deposit you’ve saved and your current financial status.


Investment Loans:

The maximum we can lend you for investment loans is 80% LVR with LMI approval, subject to lending criteria.


Owner-occupied Home Loan:

The maximum we can lend you for an owner occupied home loan is 95% LVR or 90% for refinancing purposes, subject to lending criteria.

To find out exactly how much you can borrow, we recommend you get in touch with us to find out exactly how much you can borrow, OR check out our borrowing calculator, to get a feel of how much you can borrow.

The term of your home loan is up to you and the amount of money you end up borrowing. You can take out a loan for 5 years or up to 30 years. Your repayments each month will also influence the length of your loan with us.

You can pay off your loan in a few ways! Either through direct credits into your loan, salary deductions or simply depositing cash at our branch. It’s really that simple.

With the exception of our fixed rate home loans, you can pay out your home loan early without any additional fees. Check out our Fees and Charges to find out more.

Certainly! Most of our variable rate home loans you can make additional repayments with no fee or penalty. However, a fee may apply for a fixed rate home loan. Refer to our Fees and Charges or call us on 1300 132 249.

Yes! You can fix all, or part of, your variable home loan. Get in touch to find out how.

We only pass on the cost of any external fees we’re charged, including the valuation of your property and any legal fees. These fees will vary depending on your property.

If you’d like to read more about these fees, and any others, download our Fees and Charges.

Our variable rate home loans allow you to top up your loan, subject to credit approval. Top up is not available on our fixed rate home loans. You simply need to get in touch with us to set this up.

Yes, we offer both interest only and principal and interest home loans.

Once you’ve been approved for one of our home loans, the offer is valid for 90 days, from the date of the offer.

Most of our home loan products allow you to redraw equity from your home loan. Check your product features to make sure it’s available to you.

This really depends on a number of factors. When you refinance your home loan, you’re reapplying to transfer your current home loan to a new home loan so you can apply for a larger amount, however you will be assessed in terms of affordability and a credit check will be undertaken.

Refinancing your home loan is when you move your home loan to another financial institution.

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