Bank of us Home Loans

Rates and fees last updated on

Tradition, community and financial responsibility at Bank of us

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Proudly Tasmanian, Bank of us offers its members a full complement of financial products, including four home loans to make their property owning aspirations a reality.

What do I need to know about Bank of us?

Bank of us is actually the oldest building society in Australia. Bank of us came to be when the Bass and Equitable building societies decided to join forces and serve the entire state of Tasmania. With a strong focus on personal service and social involvement, Bank of us is proud of its history and the relationship it has with its members and its community.

Besides four home loan products, Bank of us also offers its members a range of personal and business solutions. Whether you’re buying your first home or investing your company’s profits, Bank of us pledges to assist you in attaining your financial objectives.

B&E Personal Banking merger

Due to a merger, B&E Personal Banking is now named Bank of us. All B&E Personal Banking products have been renamed to Bank of us.

Compare Bank of us Home Loans

Rates last updated November 22nd, 2017
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Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
4.29%
4.33%
$650
$0 p.a.
90%
5.52%
5.67%
$650
$10 monthly ($120 p.a.)
90%
5.19%
5.59%
$650
$10 monthly ($120 p.a.)
90%
5.09%
5.49%
$650
$10 monthly ($120 p.a.)
90%
5.29%
5.47%
$650
$10 monthly ($120 p.a.)
90%
4.19%
4.21%
$650
$0 p.a.
90%
5.22%
$650
$10 monthly ($120 p.a.)
95%
3.79%
3.79%
$650
$10 monthly ($120 p.a.)
80%
3.79%
3.79%
$650
$10 monthly ($120 p.a.)
80%
4.19%
3.89%
$650
$10 monthly ($120 p.a.)
80%
3.79%
3.79%
$650
$10 monthly ($120 p.a.)
80%
4.09%
3.82%
$650
$10 monthly ($120 p.a.)
80%

Compare up to 4 providers

Home loans offered by Bank of us Banking

Topline Home Loan

This is Bank of us premium product packed with features. This product is ideal if you’re looking to borrowing $100,000 or more: the bigger the loan amount, the bigger the discount you receive on the variable interest rate.

Further savings on interest are possible with an offset account and the option to make additional repayments to cut down on the loan period. This Topline option is also available as a five-year interest-only loan for members who’d like to make an investment purchase.

FlexiChoice Home Loan

Even if you sign off for this home loan with a variable rate, you have the option to fix the interest rate for up to five years to protect against increases. Along with an offset account to help reduce interest payments on the principal loan amount, you also have access to a free transaction account and a redraw facility to withdraw from additional repayments. You can repay in weekly, fortnightly or monthly instalments - if you choose to settle the full amount during the fixed-rate period, you’ll be charged a break cost. The offset account is not available if this loan is taken on an interest-only basis.

FlexiDiscount Home Loan

Although a simpler product than the Topline and FlexiChoice options, this home loan offers discounted interest rates as well as the option to fix the competitive rate for up to five years. You may not have access to an offset facility, but you can still make penalty-free additional repayments to help reduce the loan term. However, early settlement incurs a break fee. If anything happens to you and you’re unable to repay the loan, Bank of us offers home loan customers CGU Loan Protection Insurance.

FlexiLine Home Loan

One of the benefits of diligently paying off your loan is that you’re eligible access that equity with a line of credit. With the FlexiLine loan, you can borrow a minimum of $20,000 against the accumulated equity to finance renovations, an additional investment or any worthwhile purchase. Funds are available whenever you need it, accessible via a Visa Debit card or cheque book.

Advantages and considerations of Bank of us home loans

Advantages

Thanks to these positive points, buying your home through Bank of us is a simple experience.

  • All-in-one application fee. When applying for this loan, you pay one fee that includes valuation and solicitor fees.
  • Flexibility. Customers can tailor these loans to suit their needs, whether they want to fix the interest rate, benefit from discounted rates or make free additional repayments.
Considerations
  • Break cost fee. No matter the loan, you’re liable to pay a break cost fee if you want to settle the amount before the end of the loan period.
  • Fees for redraw. Withdrawing from your extra repayments incurs a small fee for each transaction.

How to apply for Bank of us home loans

To learn more about what Bank of us can offer you and how to apply, please click on the secure links available on this page to make a mortgage broker enquiry who will put you in touch with Bank of us loan agent.

Bank of us loan agent will need the following information before considering your application:

Personal information

You’ll need to present at least one form of photographic identification like a driver’s licence, passport or a positive photo ID card. Also include a non-photographic document like a birth or citizenship certificate. They also require a secondary form of identification like a utility bill or a rates notice.

Financial information

If you’re employed, you’ll have to submit your three most recent payslips along with a letter from your employer. If you’re self-employed, they’ll need your financial statements and tax returns for the last three years. To prove that you’re able to make timely repayments, include all information about your assets, savings, investments and valuable collections. To show which liabilities you have, show proof of existing loans or credit cards, as well as significant expenses like child support.

Property information

If this application is for your first home, you’ll have to complete and submit a First Home Owner Grant application. Along with this, add the contract of sale signed and dated by both the buyer and seller, the solicitor’s name, address and phone number, and the council-approved building plans if you’re planning construction.

Rooted in values of community and responsible practices, Tasmania’s first banking society goes the distance in taking care of its members’ financial futures.

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This page was last modified on 2 November 2017 at 4:14pm.

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