Heritage Bank Advantage Package Home Loan

Rates and Fees verified correct on December 8th, 2016

The Heritage Bank Advantage Package Home Loan offers package benefits with the option of a fixed, variable or line of credit interest rate home loan.

With a Heritage Bank Advantage Package Home Loan, you get to enjoy flexible repayments with no penalties for unlimited additional payments, plus a fee free redraw facility to access these funds. This package home loan allows you to bundle a credit card, personal loan and bank account with your mortgage. You also have discounts available on insurance products under the package.

Interest Rate Max Insured LVR Max LVR
Standard Variable $150,000 to $249,999 (Investors)
4.39% p.a.
Comparison Rate
4.75% p.a.
95% 80%
Living Equity $700,000 or more (Investors)
4.41% p.a.
Comparison Rate
95% 80%
Living Equity $700,000 + (Owner Occupier)
4.05% p.a.
Comparison Rate
95% 80%
Living Equity $250,000 to $699,999 (Owner Occupier)
4.1% p.a.
Comparison Rate
95% 80%
Standard Variable $150,000 to $249,999 (Owner Occupier)
3.88% p.a.
Comparison Rate
4.25% p.a.
95% 80%
Standard Variable $250,000 to $699,999 (Investors)
4.29% p.a.
Comparison Rate
4.65% p.a.
95% 80%
Standard Variable $700,000 or more (Investors)
4.24% p.a.
Comparison Rate
4.60% p.a.
95% 80%
Standard Variable $700,000 + (Owner Occupier)
3.79% p.a.
Comparison Rate
4.16% p.a.
95% 80%
Standard Variable $250,000 to $699,999 (Owner Occupier)
3.84% p.a.
Comparison Rate
4.21% p.a.
95% 80%
Living Equity $250,000 to $699,999 (Investors)
4.46% p.a.
Comparison Rate
95% 80%
Living Equity $150,000 to $249,999 (Owner Occupier)
4.15% p.a.
Comparison Rate
95% 80%
Living Equity $150,000 to $249,999 (Investors)
4.56% p.a.
Comparison Rate
95% 80%
1 Year Fixed (Investors)
4.39% p.a.
Comparison Rate
4.75% p.a.
95% 80%
1 Year Fixed (Owner Occupier)
4.09% p.a.
Comparison Rate
4.27% p.a.
95% 80%
2 Year Fixed (Owner Occupier)
3.84% p.a.
Comparison Rate
4.24% p.a.
95% 80%
2 Year Fixed (Investors)
3.99% p.a.
Comparison Rate
4.68% p.a.
95% 80%
3 Year Fixed (Owner Occupier)
3.99% p.a.
Comparison Rate
4.28% p.a.
95% 80%
3 Year Fixed (Investors)
4.09% p.a.
Comparison Rate
4.67% p.a.
95% 80%
5 Year Fixed (Owner Occupier)
4.49% p.a.
Comparison Rate
4.50% p.a.
95% 80%
5 Year Fixed (Investors)
4.59% p.a.
Comparison Rate
4.83% p.a.
95% 80%
Product NameHeritage Bank Advantage Package
Interest Rate TypeVariable or Fixed
Comp Rate^ (p.a.)
Minimum Loan Amount$20,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Ongoing Fees$350 p.a.

Pros

  • $0 application fee.
  • Discounts on other Heritage Bank products.

Cons

  • $350 Home Advantage package fee applies

Things to consider about the Heritage Bank Advantage Package Home Loan

The Heritage Bank Advantage Package Home Loan can be a great way to finance the purchase of a home, it is available for new owner occupier and investor borrowers it is not available for borrowers already who already have a loan with Heritage Bank and are looking to switch or refinance.

With the Heritage Bank Advantage Package Home Loan you can choose between a variable rate, fixed rate or line of credit home loan to include in the package. You will also be able to package in a Heritage Bank credit card with no ongoing fees, a Heritage Bank transaction account with no ongoing fees or a Heritage Bank personal loan with no application fee as well as discounts off insurance and other products.

Features of the Heritage Bank Advantage Package Home Loan

  • Offset account. The Heritage Bank Advantage Package Home Loan offers a 100% offset account with the variable option and a partial offset with the fixed rate option to help you pay your home loan off sooner.
  • Option to make additional repayments. With the Heritage Bank Advantage Package Home Loan, you can make additional repayments without having to pay penalties, which can help you pay off your loan sooner and save more.
  • Flexible repayment frequency. You can repay your loan either weekly, fortnightly or monthly payments whichever one fits into your salary schedule.
  • Redraw facility. You can redraw any extra funds you have paid into your home loan through the fee free redraw facility online through your internet banking.
  • Interest only option. With this home loan you can opt for interest only repayments for up to five years with the variable and fixed options or up to 10 years with the Living Equity option.
  • Package benefits. As part of the Advantage Package, you have multiple fees such as the application and monthly fees waived on your home loan in place of the $350 annual package fee. You will also receive discounts on other products from Heritage Bank including insurance, personal loans, transaction accounts and credit cards.

Fees

There is no application fee charged with this package there is an annual package fee of $350.

How to apply for the Heritage Bank Advantage Package Home Loan

If you are interested in applying for a Heritage Bank Advantage Package Home Loan, please click the 'Go to site' or 'Enquire' button on this page to contact Heritage Bank directly or a mortgage broker. Here are some of the things you will be asked about before getting approved for the loan:

  • Good credit history. Your creditworthiness will be assessed by Heritage Bank.
  • Age requirement. To be approved for the above loan, you must be at least 18 years of age.
    • Driver’s licence. This is required as proof of your permanent residency within Australia.
    • Proof of income. The bank will require proof of your income to determine whether you can afford the repayments on the loan.

If you are looking to avoid a long term home loan and want a flexible loan that you can pay off quickly you might want to take a look at the Heritage Bank Advantage Package Home Loan. Add it to your comparison today.


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Heritage Bank Advantage Package Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 14 July 2016 at 11:35.

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Heritage Bank Advantage Package

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $350

  • Max LVR

    80%

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