Home Loans | Flying Start

A guaranteed low variable rate in the first year of the loan means borrowers can take the opportunity to get a head start on reducing their loan, if desired.

Purpose	The loan can be used for: purchase or refinance of an owner occupied or investment residential property home construction or renovation refinance an existing home loan.
Interest Rate	6.00% Comparison Rate 7.19%
Product type	Variable interest rate - for owner occupation or investment loans. Discounted in the first 12 months
Term	25 years maximum
Repayments	Principal and interest. Repayments are quoted as monthly repayments but members may make a reduction on a weekly, fortnightly, monthly basis.
Interest only option	Not available
Redraw
Repay loan early	Not available

Features Variable rate Redraw facility Pay weekly, fortnightly or monthly Direct credit your salary A discount of the standard variable home loan rate for the first 12 months Make higher repayments in the first year to make a flying start towards owning your own home Own your home sooner by having your salary paid directly into the account Redraw advance repayments when you need some cash quickly

Loan amounts Minimum $50,000 Maximum Subject to serviceability and security Repayment Methods Funds may be deposited to the account via: Payroll deposit Direct credit Internet transfer

Eligibility:

Available to personal borrowers only.

Special conditions:

Loan converts to prevailing standard variable rate after 12 months.

Security

Primary security is to be a registered first party, first mortgage over:
owner occupied residential property
residential investment property
non-income producing secondary residential property
vacant residential land.

Fees:

Fees, charges, terms & conditions and lending criteria apply. Please refer to Credit Fees & Charges schedule for current details. *Based on a loan amount of $150,000 over a period of 25 years. Comparison rates are for Owner Occupied only. Warning: the comparison rate only applies to the example or examples given above. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. *Based on a loan amount of $150,000 over a period of 25 years. Comparison rates are for Owner Occupied only. An early prepayment fee will apply if the loan is repaid in the first 2 years. Interest rates effective 09/08/2010 and subject to change.