Compare competitive and affordable home loans from Bankstown City Unity Bank
Bankstown City Unity Bank was opened in 1965 as a credit union for the staff of Bankstown City Council. For more than 45 years, this credit union has been offering a wide variety of financial products and services to benefit its members. With a branch in Bankstown, Bankstown City Unity Bank’s offers business and personal banking solutions which include savings accounts, investment accounts, personal loans, insurance solutions and home loans.
Bankstown City Credit Union merger
On June 2017 Bankstown CIty Credit Union officially merged with Unity Bank to become Bankstown City Unity Bank.
Who is Bankstown City Unity Bank?
As part of its suite of personal banking solutions, Bankstown City Unity Bank offers investment accounts, savings accounts, overdrafts, personal loans and a number of home loans. Borrowers can choose loans with either fixed or variable interest rates, while a package deal is also offered to allow customers to take advantage of a range of discounts on some of the credit union’s other products and services.
As a credit union which is run in the best interests of members, Bankstown City Unity Bank aims to offer only minimal fees on its home loans. Anyone who wishes to apply for a home loan can visit the lender’s Bankstown branch, apply online or over the phone, or take advantage of the credit union’s mobile lending service.
Some of the home loans provided by Bankstown City Unity Bank
All in One Rewards Package
This home loan offers a discounted variable rate in exchange for an annual fee. It comes with a 100% offset account home loan and flexible repayment options, as well as discounts on personal, car and debt consolidation loans.
All in One Home Loan
This is a variable rate home loan with a 100% offset account and flexible repayment features such as a redraw facility.
Pros and cons of Bankstown City Unity Bank home loans
- Minimal fees. As a credit union, Bankstown City Unity Bank offers minimal and often zero fees on its home loans.
- Package deal. You can enjoy a wide range of savings and discounts when you opt for an All in One Rewards Package.
- Offset accounts available. Bankstown City Unity Bank offers offset accounts to help minimise the amount of interest you have to pay.
- Additional repayments allowed. Bankstown City Unity Bank lets borrowers make additional repayments towards their loan so they can get out of debt quicker.
- Only one branch. This credit union only has one branch in Bankstown, which may be inconvenient if you want to visit the branch but you don’t live in the area.
How to apply for Bankstown City Unity Bank home loans
If you would like to apply for find out more information about a home loan from Bankstown, please visit the Bankwest City Unity Bank website.
Documents needed to apply for a Bankstown City Unity Bank home loan
You’ll need to supply the following information when applying for a loan. This will help Bankstown City Unity Bank verify that you are who you say you are and to check your credit history.
- Your name
- Your contact details
- 100 points of identification. Your driver’s licence, passport and birth certificate can all help with this.
You’ll also need to provide certain information about the property you are planning on buying, including:
- The contract of sale. This document contains the details of the sale, including information about the property and how much is being paid for it.
- A copy of the certificate of title. This document is needed in order to verify that that the person who is selling the property actually owns the property.
- A copy of the transfer of land. As its name suggests, this document outlines the transfer of the property in question from the seller to the buyer’s name.
Finally, you’ll also need to provide details of your financial situation so that the lender can assess your creditworthiness. This means you’ll need to supply information about your:
- Income. The credit union requires three consecutive payslips showing your year-to-date income. If you’re self-employed, your last two tax returns will be required.
- Assets. You’ll have to provide details of any assets in your name, such as shares, savings, cars and the like.
- Liabilities. Any outstanding debts or liabilities will need to be disclosed to the lender. This includes other loans, credit card debt and more. You will also have to provide details of any ongoing expenses you have to manage.