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.
|Product Name||Heritage Bank Advantage Package|
|Interest Rate Type||Variable or Fixed|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$150,000|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||Yes|
|Repayment Type||Principal & Interest and Interest Only Options|
|Ongoing Fees||$350 p.a.|
- $0 application fee.
- Discounts on other Heritage Bank products.
- $350 Home Advantage package fee applies
- $300 discharge fee
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.
What fees and charges come with this loan?
- There is no application fee charged with this package but 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.