A short-term home loan to help you buy your new home, before you've sold your old one.
Category: Home Loans Last Updated July 22, 2024 Effective November 1, 2024
General Lending Rates
Rates listed below are for a VARIABLE Owner Occupied Interest Only product. Additional Information
Interest Rate 9.31% PA
Comparison Rate 8.89%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Features
Digital Banking
OtherAdditional Information: Choose from a range of Home and Investment Loan options: Variable Package, 1 year or 2 year Fixed Package, Standard Variable or Basic Variable Loans.
Extra RepaymentsAdditional Information: Freedom to make unlimited extra repayments – reduce your loan term and save money
OtherAdditional Information: $0 Visa Credit Card Annual Fee - save $59.
OffsetAdditional Information: Link your loan and transaction account to help reduce the interest and time taken to pay off your loan.
Relationship ManagementAdditional Information: Our Program One to One provides a higher level of personalised service to members that have significant business with the Credit Union, measured by borrowings and/or deposits. This is achieved by providing each member with their own Relationship Manager as a single point of contact for all their financial service needs.
Product Eligibility
Natural Person - Personal Members Only.
Residency Status - Permanent Residents Of Australia Who Reside In Australia At The Time Of Membership Application Are Eligible For Membership, Regardless Of Citizenship Status..
Min Age - 18. Additional Information: 18 years and over
OtherAdditional Information: Terms, conditions, fees, charges and lending criteria apply and are available on application
Bank Fees and Charges
Application Fee (Upfront), Amount: 600.00.
Settlement Fee (Upfront), Amount: 150.00.
Security Handling Fee (Event), Amount: 150.00. Additional Information: Charged per occurrence. Payable in the following circumstances; deed of priority, title production, variation of priority, consent or name change.
Portability Fee (Event), Amount: 300.00. Additional Information: Charged per occasion when you wish to change the security(ies) against an existing loan(s) and there is no change to the existing loan(s) amount, loan interest rate or type, term of the loan(s), product type, borrowers or mortgagors. Discharge fees may also apply.
Top Up Fee (Event), Amount: 400.00. Additional Information: Payable when you request and we approve additional funds to your existing borrowings and there is no change to the security or borrowers.
Discharge Of Mortgage (Event), Amount: 350.00. Additional Information: For the preparation of a discharge of mortgage.
Progress Draw Fee (Event), Amount: 400.00. Additional Information: Payable per property when a loan will be drawn progressively for either construction or major renovation purposes. The fee includes the cost of all progress draws and the final inspection.
Documentation Fee (Event), Amount: 200.00. Additional Information: Payable in the following circumstances: preparation of an additional mortgage; preparation of a guarantee; or where documents have been cancelled or redone, at your request, after contracts have been issued.
Valuation Fee (Event), Amount: 0.00. Additional Information: Valuation Fee at cost and payable by member.
Nil End Debt Application Fee (Upfront), Amount: 850.00. Additional Information: For Bridging loans where there is no debt remaining once your existing property has been sold and the debts are paid in full at the end of the bridging period.
Offset Account (Periodic), Amount: 8.00. Additional Information: Only one fee will be charged per loan if multiple OffsetAccounts are held and are linked to the eligible loan.
Bank Cheque Fee (Event), Amount: 0.00. Additional Information: Bank Cheque Fee at cost to People's Choice per cheque
Limitations & Restrictions (Constraints)
Min Limit of 20000.00 Additional Information: Minimum loan size is $20,000.00