Line of Credit Loan

Line of Credit Loans are interest only variable rate loans that allow you to borrow against the equity in a home with the added flexibility of a transaction account built into the loan. It's just like a really big credit card which is secured against your home and charged at home loan interest rates.

A line of credit is the best option if you are looking for a mortgage reduction loan. Some of the reasons for this are:

Line of Credit gives you easy access to funds
With a Line of Credit the purpose of a withdrawal is unquestioned.
Line of Credit gives you Eftpos & cheque book convenience
With a Line of Credit there is no early payment penalty
There is no set term to a Line of Credit.
A Line of Credit is transferable - If you decide to buy a new property the Line of Credit can be moved over to the new home.
Line of Credit gives you extra Investment Opportunities
Line of Credit gives you Tax Savings

Frequently asked questions from our clients regarding Line of Credit loans:

Question:	Who can access Line of Credit facilities?
Answer:	Line of Credit facilities can be used for Owner occupied, investment or business purposes.
Question:	What kind of repayment options exist for Line of Credit facilities?
Answer:	Interest only for the first 15 years (called the Revolving Credit Period). Principal and interest for the remainder of the loan term.
Question:	Can you split into various accounts a Line of Credit loan?
Answer:	You can have up to 4 separate loan accounts under one facility.
Question:	What sort of security is required for a Line of Credit?
Answer:	Usually 1st registered mortgage over a residential property is required as security.

Would you like to find out more about Line of Credit Loans?

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