Line of Credit
A facility that provides the greatest amount of flexibility and can be used to pay off homes loans quicker. Customers credit all of their income into this facility to reduce the principle faster while living off the credit card. When the credit is due, the balance owing on the card is automatically ‘swept’ from the Line of Credit before any interest is charged. Every dollar earned reduces the principle which in turn reduces of the amount of interest to be paid. A great way to pay off your home quicker.
Features and Benefits
Loan Purpose
• Housing
• Personal
• Housing Investment
• Personal investment
• Off the Plan purchases
Features
• Access to funds up to the approved limit
• Interest only payments
• No limit to extra lump sum payments
Benefits
• The moment the customer's salary or other income is credited to their Line of Credit the balance of their loan is reduced, which reduces the amount of interest they have to pay
• By gaining easy access to available credit, the customer can make their money work smarter
• Use the excess equity in their home to create wealth by investing in property, shares and managed funds
• Can withdraw funds up to the agreed limit whenever the customer needs them
At a Glance
• Minimum – $10,000
• Maximum – No Maximum
• Term – up to 30 years
• Lower interest rates
• Lower ongoing fees
