Resi Line of Credit

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Headline interest rate
6.77%

Max LVR
90%

Annual fee
$0

Moneybuddy says

Line of credit from Resi offering the ability to draw down and repay money as required at a competitive rate of interest. Can be a cost-effective way to borrow exactly the amount you need, using your existing home loan to your advantage.

The Basics

Interest type Variable rate

Headline interest rate 6.77%

Max LVR 90%

Annual fee $0

The cool stuff: features

Draw down loan progressively -

Insurance details Payable by borrower if more than 80% LVR

Loan is Transferable Yes

Line of credit available Yes

Product suits Owner - Occupier & Investor

The Facts & Figures

Introductory rate -

Introductory term -

Interest rate 1 year 0%

Interest rate 2 years -

Interest rate 3 years -

Interest rate 4 years -

Interest rate 5 years -

Interest rate 7 years -

Interest rate 10 years -

Interest rate 15 years -

Comparison rate 1 year -

Comparison rate 2 years -

Comparison rate 3 years -

Comparison rate 4 years -

Comparison rate 5 years -

Comparison rate 7 years -

Comparison rate 10 years -

Comparison rate 15 years -

Comparison rate 6.82%

Minimum loan term -

Maximum loan term 30 years

Min loan amount $30,000

Max loan amount $2,000,000

Early repayments Yes

Redraw facility Yes

Repayment holiday -

Ability to split loan Yes

Extra repayments Yes

Offset account available -

Interest only payments Yes

The ugly stuff: fees

Application fee -

Valuation fee $236.50

Subsequent valuation fee $236.50

Valuation fee details -

Discharge fee $295

Discharge fee details -

Legal fee $396

Settlement fee -

Redraw fee $0

* Important note: All information provided by advertiser or taken from advertiser website and correct at time of publishing. If this information is incorrect, please contact us.

Resi says

Use the equity in your home to have ready access to credit whenever you need it. If you are looking for the flexibility a Line of Credit Loan can provide, then Resi has the solution for you. Our Line of Credit facility is perfect for when you are in need of extra funds. It provides you with the ability to draw down and repay money as required at a competitive rate of interest. It's money you can access whenever you want, for whatever you need: renovations, paying bills, or even investing. It can also be very cost-effective, because you only need to draw the amount you need and unlike a loan, you won't pay interest on the money you don't use. Product features include: No application fee. No regular ongoing monthly or yearly fees. Competitive interest rate. Debit card access. Ability to manage your account online