Heritage Bank Pro Pack Living Equity LOC

Heritage Bank
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Headline interest rate p.a.
5.33%
Comparison rate p.a.
5.57%
Annual fee
$250

Moneybuddy says

Heritage Bank's 'Professional Package Living Equity Line of Credit' enables borrowers to have 24-hour access to their equity funds. The Professional Package bundles the line of credit with other financial products including a Visa credit card and provides customers with transaction account benefits such as free ATM withdrawals and huge savings on typical line of credit fees.

The Basics

Max LVR 85.00%

Interest type Variable rate

Headline interest rate p.a. 5.33%

Comparison rate p.a. 5.57%

Annual fee $250

The cool stuff: features

Draw down loan progressively -

Insurance details -

Loan is Transferable -

Line of credit available Yes

Product suits Owner - Occupier

The Facts & Figures

Introductory rate p.a. -

Introductory term -

Interest rate (p.a.) 1 year 5.33%

Interest rate (p.a.) 2 years 5.33%

Interest rate (p.a.) 3 years 5.33%

Interest rate (p.a.) 4 years 5.33%

Interest rate (p.a.) 5 years 5.33%

Interest rate (p.a.) 7 years 5.33%

Interest rate (p.a.) 10 years 5.33%

Interest rate (p.a.) 15 years 5.33%

Comparison rate (p.a.) 1 year 5.82%

Comparison rate (p.a.) 2 years 6.46%

Comparison rate (p.a.) 3 years 6.46%

Comparison rate (p.a.) 4 years 6.46%

Comparison rate (p.a.) 5 years 6.46%

Comparison rate (p.a.) 7 years 6.46%

Comparison rate (p.a.) 10 years 6.46%

Comparison rate (p.a.) 15 years 6.46%

Minimum loan term -

Maximum loan term -

Min loan amount -

Max loan amount -

Early repayments Yes

Redraw facility -

Repayment holiday No

Ability to split loan -

Extra repayments Yes

Offset account available -

Interest only payments Yes

The ugly stuff: fees

Application fee $0

Valuation fee -

Subsequent valuation fee -

Valuation fee details -

Discharge fee -

Discharge fee details -

Legal fee -

Settlement fee -

Redraw fee -

Comparison Rate Disclaimer -

All product information comes from the product provider or an affiliate and to the best of our knowledge is correct at time of publishing. MoneyBuddy endeavours to keep product information up to date however we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. We recommend that you check the accuracy of all information provided on this website with the product provider. MoneyBuddy earns a referral fee from redirecting website users to a product provider's website. Further details are provided in relation to specific product information. Website users have no obligation to apply for a product or service that they may be referred to by this website.

Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Heritage Bank says

The equity you hold in your home is an asset you can use for additional borrowing for property or share investments, education, or holidays. It can also act as a general line of credit.

Key features

  • Variable rate
  • $0 application fee
  • $250 annual fee
  • Additional repayments permitted to reduce the balance on the loan more quickly, penalty free
  • Redraw facility provided you have paid over the amount due
  • Minimum deposit of 15%

Pros

  • No penalties on early repayment
  • Flexible repayment options
  • Interest only repayments up to 10-years

Cons

  • No construction loan available
  • No 100% offset account available
 
Interested in this home loan?

We can pass your details on directly to a home loan expert from the bank, who will contact you within 24 hours to discuss your situation.

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Approx Loan Amount

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We've partnered with Tomorrow Finance for home loan data, advice and details. You will be contacted within 24 hours by a home loan expert from the bank to discuss your situation. There is no obligation to complete the home loan. You are simply making an enquiry.

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home > compare home loans > Heritage Bank home loans > Pro Pack Living Equity LOC