Heritage Bank Professional Package Home Loan

Rates and Fees verified correct on December 9th, 2016

Take advantage of this award-winning home loan which allows you to combine multiple loans into one financial package.

Heritage Bank Professional Package Home Loan is an all-inclusive home loan which provides you with flexibility. With this package, borrowers have the option of rolling their home loan, transaction accounts and credit card into one loan product. One of the stand-out features of this loan is the competitive annual fee. Using this package, you can also receive discounts on the insurance products that are provided through Heritage Bank.

There are many features to enjoy and some of these include: zero application fees with the home loan, no annual fees for the Heritage Visa credit card and Heritage personal loans (with the exception of the Low Rate Secured Loan).

Awards

  • Money Magazine’s 2010 Cheapest Home Loan Package and Cheapest Flexible Home Loan.

Things to consider about the Heritage Bank Professional Package Home Loan

This is a package home loan, which means you get a discount on your interest rate and fees, and other products from Heritage Bank in exchange for paying an annual fee.

Features of the Heritage Bank Professional Package Home Loan

  • 100% offset account available. You can link a Mortgage Crusher 100% offset account to this loan. Offset accounts are linked transaction accounts which offset the interest due on your home loan. If you have $10,000 in your account on a home loan of $150,000, interest will only be calculated on $140,000.
  • Insurance discount. Enjoy discounts on insurance products offered by Heritage Bank with the Professional Package Home Loan. One of the major features is the 5% discount off most Heritage Bank insurance premiums. Keep in mind that not all insurance covers are included with this offer, so take a look at the covers that are included before applying.
  • Multiple loans. You can have multiple loans all rolled into this one package, and that includes both personal and home loans. You can also add your credit card and transaction accounts into the account. With home loans, the minimum combined loan amount is .
  • Flexible repayments. You can make flexible repayments under this package and that includes making early repayments and lump sum payments. You will not be charged any fees for making these payments.

Fees

Fees you can avoid

  • Application fee: You can avoid application fees with the Professional Package as it doesn’t charge one.
  • Visa Card annual fee: As part of the discounts which come with this loan you won’t have to pay an annual fee for the Heritage Visa Credit Card.

Fees you can’t avoid

  • Annual fee: An annual fee of is charged on home loans acquired through this package.

How to apply for the Heritage Bank Professional Package Home Loan

This loan is eligible to all Australian citizens and residents who are above the age of 18 years. You can apply for this loan if you are:

  • Self-employed: Self-employed people can apply but, you will have to provide proof of income with your financial statements as requested by the bank.
  • Employee: You can apply for this loan as an employee of any organisation and you will also need to provide proof of employment along with any financial documents that may be requested by the bank.

Your loan amount is subject to your financial standing and the bank will need to evaluate your:

  • Savings history: For your savings history, you will be required to provide a copy of your savings account(s) statements.
  • Proof of income: There are various documents and information that may be required to ascertain your source of income. This could be your rental income statements, financial statements, salary or employment letter, employment contract, tax returns and others.

Heritage Bank Professional Package Home Loan is a loan product for those who wish to combine all your loans into one package. Check out other similar packages to compare the features offered.

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This page was last modified on 14 October 2014 at 23:12.

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