Buying your first home

buying your first home

Buying a home is one of the most important decisions you’ll ever make in your life. That's why you need to plan well ahead and make sure you choose the best home loan option to meet your specific needs.

Where do I start?

Read the information below which will give you some guidance in the range of home loans that we have to offer. We also explain some basic loan features (for example, offset facility and loan portability) so you’re able to make a more well-informed decision.

What’s next?

Once you are ready to apply for your home loan, we recommend that you call one of our friendly and experienced home loan consultants on 13 63 73 option 4 who will discuss your requirements, give you the information you need to choose a loan that suits your needs, budget and objectives and assist you throughout the home loan process.

Benefits of our home loans

You can enjoy the following benefits:

  • competitive interest rates
  • a range of home loans tailored to suit your needs
  • flexible repayment options – weekly, fortnightly or monthly
  • finance for up to 95% of your property’s value
  • competitive no-obligation insurance quotes  
  • optional mortgage repayment insurance

Popular loans for first home buyers

Here are some loan options that we have found are popular with our first home buyers.

What’s a redraw facility?

A redraw facility on a variable rate home loans allows you to withdraw directly from your home loan account any repayments you have made that are more than your contractual repayments.

The minimum redraw is $50 and the maximum is the amount of advance repayments you've made. You can make as many redraws as you like and there's no fee to do so!

What’s an offset facility?

An offset facility is a savings and/or transaction account that's linked to your home or investment loan. The credit balance of your account is offset daily against your outstanding loan balance, reducing the interest you pay.

For example: if you borrow $200,000 and the balance in your offset savings account is $20,000, we will only calculate interest on $180,000.

Save on interest by offsetting the funds in your linked Ezepac or Investor account against the balance of your loan. An offset facility is available with any one the following standard variable loan options:

What’s a top-up loan?

With a top-up loan, you can turn the equity in your home or investment property into a source of funds for other purposes. This is a cost effective way of borrowing money where you might choose to. You can then use these funds for minor renovations, a car purchase, travel, shares or to buy another property.

What’s loan portability?

Loan portability means that you can move your loan to another property without changing the conditions of your loan contract (that is, the loan amount and term). You can do this by selling your current property and buying another one at the same time, or you might prefer to provide us with another security for your loan that’s of equal or greater value. This means you don’t need to repeat the application process.

A security substitution fee applies and the new security must fit with our lending policy guidelines.

What’s mortgage repayment insurance?

Mortgage repayment insurance (or consumer credit insurance) is a simple way to ensure your loan repayments are made if something happens to you, for example if you're injured in an accident, get sick and can't work, or in the event of death.

There are conditions so it is important to understand the product before making a decision to acquire.

BSB: 704 230

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