Own your home sooner with Beyond Bank Australia home loans.
Beyond Bank Australia is the trading name of Community CPS Australia. Before it became a bank in 2013, Community CPS was one of Australia’s largest credit unions. Now, Beyond Bank Australia is one of Australia’s largest customer-owned banks, with more than 200,000 customers and 40+ branches around Australia. It provides personal and business banking services plus tax, accounting and financial planning advice.
Beyond Bank Low Rate Special Home Loan
The Beyond Bank Low Rate Special Home Loan has loads of great features including a 100% offset account to help you save on interest.
- Interest rate of 3.73% p.a.
- Comparison rate of 3.73% p.a.
- Application fee of $0
- Maximum LVR: 80%
- Minimum borrowing: $150,000
- Max borrowing: $2,000,000
Home loans offered by Beyond Bank Australia
Basic Variable Home Loan
This loan offers a competitive variable rate and pre-approval that is valid for three months. First home buyers are not charged a loan establishment fee.
Features include a redraw option and the ability to split your loan. Flexible principal and interest repayment options let you make additional repayments without penalty, and allow you to choose your payment frequency from weekly to monthly. A monthly service fee does apply.
Standard Variable Home Loan
This premium loan offers a range of flexible features including no monthly fee, a competitive variable rate, redraw facility and an optional offset account. Three-month pre-approval lets you search for your home with confidence, while interest-only payments are available.
Borrowers making principal and interest repayments can make additional repayments without penalty and choose their payment frequency from weekly to monthly. Bridging finance is also available and an establishment fee applies.
Fixed Home Loan
The Fixed Home Loan gives you the peace of mind of knowing how much your repayments will cost for a set period. This loan has no monthly fee and also offers a competitive fixed rate and three-month pre-approval.
This loan lets you purchase a home, build a new home, or even finance your home renovations. Features include a redraw option, loan split option, and the ability to make interest-only or principal and interest repayments.
All-in-One Home Loan
Beyond Bank’s All-in-One Home Loan lets you put your funds into the one line-of-credit home loan account and access your cash for everyday expenses or larger transactions. This means you can save on interest and you always have access to your funds.
Loan features include a competitive variable interest rate, no set repayments, and flexible principal and interest repayment options. No monthly service fee applies but this loan does attract an establishment fee.
Beyond Bank’s Building Loan lets you choose from a competitive fixed or variable interest rate and make interest-only repayments for the entire duration of your home’s construction. There is no monthly account-keeping fee, you have the option to split your loan, and you can also make additional repayments. An establishment fee does apply.
How to apply for a Beyond Bank Australia home loan
You can apply for a Beyond Bank home loan in three ways:
- Fill out an online application form
- Visit your nearest branch
Documents needed to apply for a Beyond Bank Australia home loan
Beyond Bank will require you to provide some personal information that can help to prove your identity. This documentation is required by law and must be provided to the bank before your home loan can be finalised.
- Tax File Number. Beyond Bank will need to have your Tax File Number (TFN) on hand to include on the loan paperwork.
- Proof of Identification. You will be required to provide 100 points of identification.
You will also need to provide several pieces of documentation pertaining to the purchase of your home. Each home loan may require different documentation, so be sure to talk with your agent to see what your specific requirements are. However, here is a list of the most common property documentation required:
- Property valuation. When you obtain a loan from the bank, a proper assessment will need to be done on the property to determine its true value. This will ensure that the loan you are obtaining is equal to the value of the home being purchased.
- Proof of title for property. Beyond Bank will need to obtain a copy of the title for the property being purchased. This will guarantee that the party selling you the property is the actual owner of the property and has the rights to sell it.
- Property sales contract. Before closing on your loan, the bank will need to have a copy of the sales contract for the property. This will provide all the details about the sale of the property.
Although you will provide Beyond Bank with your financial information at the initial stages of the application, you will also need to provide proof of that information. The bank will ask for detailed information about your earnings, assets and expenses. You’ll need to provide:
- Proof of earnings. You must provide documentation that can prove your annual earnings. If you earn a wage, copies of your payslips should be adequate. If you are self-employed you may need to submit copies of your tax returns.
- Documentation for outstanding debt. If you have any outstanding debt that you listed on your home loan application, you will need to provide Beyond Bank with a copy of the latest statement for those accounts.
- Proof of assets. Beyond Bank will need documents that can prove the value of any additional assets or income that you disclosed on your initial home loan application.
Beyond Bank offers a number of attractive home loan options, but make sure to seek expert advice and compare your options so you find the best loan available for your needs.