Heritage Bank Living Equity Line of Credit home loan

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The equity in your home can be used to borrow additional funds with the Heritage Bank Living Equity Line of Credit home loan.

The Heritage Bank Living Equity Line of Credit home loan allows you to use your home equity to get access to funds. You can take out this loan for a range of needs including buying new property, investments or even for a holiday. It’s a flexible line of credit and it can be used for general purposes.

This line of credit comes with a Visa debit card that can be used in any ATMs that accept Visas and of course, in Heritage ATMs as well.

Interest Rate Max Insured LVR Max LVR
(Investor) Existing customers only
5.18% p.a.
Comparison Rate
80% 80%
(Owner Occupier) Existing customers only
5.56% p.a.
Comparison Rate
85% 80%
Investors (New Customers Only)
5.56% p.a.
Comparison Rate
80% 80%
Owner Occupier, P&I (New Customers Only)
5.56% p.a.
Comparison Rate
85% 80%
Product NameHeritage Bank Living Equity Line of Credit
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$20,000
Maximum Loan Amount$500,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR85%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$600
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$150
Discharge Fee$250


  • Borrow up to 85% of the property value
  • Make any number of extra payments without penalty
  • Withdraw funds whenever you want up to your approved credit limit


  • There is $10 monthly account fee
  • A $250 discharge fee applies when you pay off your home loan

Things to consider about Heritage Bank Living Equity Line of Credit home loan.

You can acquire this loan for a range of purposes including holidays, education purposes, share investments and much more.

The bank has designed this loan to be a flexible revolving line of credit for borrowers. You have flexible repayments as you can choose to make interest-only repayments for up to 10 years or pay off your loans faster by making additional payments. Borrowers are provided with a Heritage debit card and access to BPAY facilities.

Features of the Heritage Bank Living Equity Line of Credit home loan

  • Repayment options. Heritage Bank gives you flexible loan repayment options with this line of credit. For starters, you have the option of making interest-only repayments for the first 10 years of your loan term. You can also choose to pay off your loan much faster with increased repayments or through lump sum payments. Unlike many loan products, no penalties will be charged if you pay off your loan early.
  • Loan limits. Heritage Bank offers loan amounts ranging from a minimum limit of $20,000to a $500,000 maximum with this loan.
  • Accessibility. Heritage Bank gives you easy access to your loan with a Visa card which you can use throughout the Heritage network of ATMs and any Visa-branded machine. You also have full access to internet bill payments using BPAY.
  • Loan term. This loan is available for a maximum duration of 30 years.


Fees you can avoid

  • Early repayment fees. You can repay your loan early without incurring any penalties.
  • Online banking fees. There are no online banking fees.
  • Direct debit and credit fees. You will not be charged for direct debit or credit transactions.
  • Cheque deposit fees. Cheques deposits are all free.
  • Counter withdrawal fees. Counter withdrawals, transfers and use of BPAY are all free.

Fees you can’t avoid

  • Application fee. Application fees apply and will cost you $600.
  • Monthly fees. Unlike other Heritage Bank loan products, you will have to pay a monthly fee of $8.

Find out what your repayments will be in a few seconds

How to apply for the Heritage Bank Living Equity Line of Credit home loan

Eligibility criteria:

  • Age. You must be 18 years or older to apply for this loan.
  • Residency. You must be an Australian permanent resident to be eligible for this loan.

Some of the documents required with Heritage Bank Living Equity Line of Credit home loan include:

  • Personal identification. You must provide some form of personal identification. This could be your driver’s licence, passport, proof of age card or other documents approved by the bank.
  • Financial documents. The bank would need your tax returns, financial statements, savings account statements and other documents. This is to establish proof of income and your ability to repay.

Heritage Bank Living Equity Line of Credit home loan is a loan product for homeowners. You can also compare what other financiers have to offer to get the best financing deal.

Enquire about this home loan
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Heritage Bank Living Equity Line of Credit

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $600 / $10

  • Max LVR


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