Home loans Solutions

How do I choose the right loan?

There’s a broad range of home loans available. So think about what’s most important to you. Do you want to pay off your loan as fast as possible, have the certainty of fixed rates or the flexibility of variable rates, or have access to flexible options down the track?

How can I pay off my home loan as fast as possible?

• Our Premier Advantage Package starts with savings of up to 0.7%p.a off our home loan rates. It also provides savings on your home loan fees plus savings on a variety of other products and services. ¹
• Our Rocket Repay Home Loan provides a linked 100% offset transaction account. This means that every dollar in your transaction account reduces the balance in your loan. The more funds in your account, the less interest you’ll pay.
• Our lowest variable interest rate home loan is the Flexi First Option Home Loan. It offers a range of flexible options, but you only pay for them if you use them.
• Paying off your loan fortnightly, or weekly, can have a significant effect on the term of the loan. Compare the difference using our Repayment comparison calculator.²

I want to know that my repayments won’t change

If you want certainty against interest rate rises, you can take out one of our competitive Fixed Rate Loans for a set period. This can help you to budget for your repayments. If interest rates go up, you’ll benefit as you’ll still be paying at the lower rate. However, if interest rates drop, you’ll be paying more.

When your fixed rate period expires you have the choice of refixing,  taking up a variable rate loan or a combination loan.

I want to have maximum flexibility for the future

You’re likely to have your home loan for a long time, and your situation can change from the time you first buy your home. You might want to renovate, start a family, take an extended holiday or buy a new home.

You can keep your options open down the track, as we offer a number of loans and features to help you should these things happen.

All of our loans offer:

• Redraw  - accessing extra money you’ve built up in your loan ³
• Portability – the ability to take your loan with you if you move saving the hassle and expense with taking out a new loan
• Extra repayments – the ability to make extra repayments to reduce interest payments.

Some of the other options you may want to think about are:

• 100% offset - where every dollar in your transaction account reduces the balance in your home loan
• Top up - increase the limit on your existing loan to cover additional costs without applying for a new loan
• Parental leave - reduce your repayments by up to 50% for as long as 6 months when a new baby comes along
• Repayment holiday - if you've built up extra funds in your home loan you can stop making repayments for a while
• Reduced Repayment - reduce your repayments by up to 50% for as long as 6 months during periods involving large expenses such as extended holidays or renovations. 

Review your options

• Compare all variable home loans
• Use our Loan selector tool.

I want to have the best of both worlds

A combination loan allows you to combine the security of a fixed rate with the flexibility of a variable rate loan and/or a line of credit (Equity Access Loan).

It works like this:

You split your loan into two parts, one fixed and one variable – you choose the proportions.

• On the fixed rate part, you'll be protecting yourself from the full impact of potential rate rises during the selected term
• On the variable rate part, you'll be able to repay extra without penalty, and access other flexible features.

For more information, read up on our Combination Loan.