Heritage Bank Home Loans

Rates and Fees verified correct on December 5th, 2016
Heritage Bank Logo

Heritage Bank is Australia’s largest customer-owned bank.

The bank was formed in 1981 when Toowoomba Permanent Building Society and the Darling Downs Building Society merged.

Heritage Bank offers loans in four categories: fixed, discount variable, basic variable and standard variable. Many of the features from these four loan types can be combined and bundled for a customised package. All loans offered by Heritage Bank come with a redraw facility, portability and allow additional repayments.

Heritage Bank home loans comparison

Rates last updated December 5th, 2016
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Loan purpose
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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Heritage Bank Discount Variable Home Loan - Special Rate Offer (Owner Occupier)
A limited time special offer when you borrow more than $150,000.
3.79% 3.84% $600 $0 p.a. 95% More info
Heritage Bank Advantage Package - Standard Variable $700,000 + (Owner Occupier)
A package loan with a competitive interest rate and 100% offset account.
3.79% 4.16% $0 $350 p.a. 95% More info
Heritage Bank Standard Variable Home Loan - Standard Variable Rate (Owner Occupier)
Standard variable loan with ability to borrow up to 95% of the property value.
5.04% 5.15% $600 $5 monthly ($60 p.a.) 95% More info
Heritage Bank Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier)
A two year fixed rate home loan with interest only options and partial offset account.
3.84% 4.92% $600 $5 monthly ($60 p.a.) 95% More info
Heritage Bank Fixed Rate Home Loan - 3 Year Fixed Rate (Owner Occupier)
Enjoy a fixed rate for three years along with additional features.
3.99% 4.87% $600 $5 monthly ($60 p.a.) 95% More info
Heritage Bank Fixed Rate Home Loan - 1 Year Fixed Rate (Owner Occupier)
Lock in a competitive rate for a year and enjoy a partial offset account.
4.09% 5.06% $600 $5 monthly ($60 p.a.) 95% More info
Heritage Bank Fixed Rate Home Loan - 5 Year Fixed Rate (Owner Occupier)
A fixed rate home loan which allows extra repayments to be made.
4.49% 4.92% $600 $5 monthly ($60 p.a.) 95% More info
Heritage Bank Reverse Mortgage - Standard
A competitive loan which allows seniors to access their equity.
6.19% 6.21% $995 $0 p.a. 45% More info
Heritage Bank Bridging Loan - Owner Occupier
Pay $0 ongoing fee and borrow up to 85% LVR.
5.04% 5.11% $900 $0 p.a. 85% More info
3.88% 4.25% $0 $350 p.a. 95% More info
3.84% 4.21% $0 $350 p.a. 95% More info
Heritage Bank Living Equity Line of Credit - Owner Occupier
A competitive line of credit loan from Heritage Bank.
5.11% $600 $8 monthly ($96 p.a.) 85% More info
4.09% 4.27% $600 $350 p.a. 95% More info
3.84% 4.24% $600 $350 p.a. 95% More info
3.99% 4.28% $600 $350 p.a. 95% More info
4.49% 4.50% $600 $350 p.a. 95% More info
4.15% $0 $350 p.a. 95% More info
4.10% $0 $350 p.a. 95% More info
4.05% $0 $350 p.a. 95% More info
4.74% 4.79% $600 $0 p.a. 95% More info
4.39% 4.75% $0 $350 p.a. 95% More info
4.29% 4.65% $0 $350 p.a. 95% More info
4.24% 4.60% $0 $350 p.a. 95% More info
4.56% $0 $350 p.a. 95% More info
4.46% $0 $350 p.a. 95% More info
4.41% $0 $350 p.a. 95% More info
Heritage Bank Fixed Rate Home Loan - 1 Year Fixed (Investors)
Competitive 1 year fixed rate with partial offset available.
4.39% 5.31% $600 $5 monthly ($60 p.a.) 95% More info
Heritage Bank Fixed Rate Home Loan - 2 Year Fixed (Investors)
Investors can fix their rate for 2 years and know what they are to pay each month.
3.99% 5.15% $600 $5 monthly ($60 p.a.) 95% More info
Heritage Bank Fixed Rate Home Loan - 3 Year Fixed (Investors)
Competitive 3 year fixed interest rate for investors.
4.09% 5.07% $600 $5 monthly ($60 p.a.) 95% More info
Heritage Bank Fixed Rate Home Loan - 5 Year Fixed (Investors)
A 5 year fixed rate suited to those wanting to build an investment portfolio.
4.59% 5.10% $600 $5 monthly ($60 p.a.) 95% More info
4.39% 4.75% $600 $350 p.a. 95% More info
3.99% 4.68% $600 $350 p.a. 95% More info
4.09% 4.67% $600 $350 p.a. 95% More info
4.59% 4.83% $600 $350 p.a. 95% More info

Home loans provided by Heritage Bank

Fixed Rate

This loan allows you to lock in your interest rate for a certain period of time. The interest you pay on this loan can be partially reduced with an offset account that comes with full transaction facilities. There is an ongoing monthly fee and an application fee with this loan, as well as a redraw facility and extra repayment options. When the fixed rate term expires the loan reverts back to the standard variable. This loan can be used for construction and is suitable for those who want to renovate.

The Fixed Rate Home Loan

Discount Variable

The Discount Variable Loan is a no-frills basic home loan with an ongoing discounted interest rate and no monthly fees. It features an application fee but has no valuation fees. This loan does not come with an offset account as interest rate reductions are already built into the structure of the loan. Additional repayments and redraw facilities are available, as well as the ability to increase loan limits for a fee. Repayments on this loan are welcome in the form of principal and interest or interest-only, giving you extra flexibility.

The Discount Variable Home Loan

Standard Variable

This loan is suitable for borrowers who are planning on paying back their loan in the medium term. The early termination fee is only applicable in the first year of borrowing. There is an application fee, a monthly fee and a limit increase fee. The loan comes with an offset account, a redraw facility and the option of making additional repayments. It has no break fees and no valuation fee. The loan also offers an interest-only repayment option.

The Standard Variable Home Loan

Living Equity Line of Credit

Make use of your home's equity to purchase an investment property, invest in other areas or even use the funds for a holiday. Heritage Bank's Living Equity Line of Credit Loan comes with a Visa debit card, allowing you to access your funds when you need them.
The Living Equity Line of Credit Home Loan

Home Advantage Package

Package Heritage Bank's Standard Variable, Fixed Rate or Living Equity home loan with a credit card and transaction account and enjoy the benefits of discounts on application and account keeping fees as well as interest rates and Insurance products.

Why you should consider a Heritage Bank home loan?

  • Bundle loans with other accounts and use your equity. With Heritage Bank you have the ability to bundle these loans with credit card or transaction accounts. You can also use the equity in your home for additional borrowing and interest rate offsets.
  • Full range of redraw facilities and repayment options in every account. Every Heritage Bank home loan allows you to make additional repayments on your own time and allows you to withdraw money from your account in case you need it.
  • Borrowing limit increases. Three of Heritage Bank’s home loans allow further advance or limit increases: the Discount Variable, Basic Variable, and Standard Variable home loans.
  • Offset accounts. Offset accounts are available with three of Heritage Bank’s home loans. The Discount Variable Loan does not offer an offset account because the ongoing interest rate is already discounted.

About how to compare home loans

How to apply for a Heritage Bank home loan

To find out more about a Heritage Bank home loan, view the home loans in the table above and click 'More' to read a review. If you're interested in finding out more, you can fill out a form and be put into contact with a mortgage broker who can help you apply for a Heritage Bank home loan.

Information needed to apply for a Heritage Bank home loan

To apply for a home loan with Heritage Bank you'll need to supply the following information:

  • Savings information. Heritage Bank will want to see evidence of genuine savings.
  • Income information. You'll need to supply tax returns, payslips, letters from your employers and other similar documents. This includes rental income, bonus payments, child support maintenance payments and your financial statements if you're self-employed.
  • Information about the purpose of the loan. Heritage Bank will want to see copies of your contract of sale, strata plans if applicable, and other documents if you're building or refinancing.
  • Personal identification. You'll need to provide 100 points of identification when applying for a home loan with Heritage Bank.

Heritage Bank has a proven track record as a reliable home loan institution. Seek expert advice and compare the bank’s products with those from other lenders to find the best home loan package for you.

Know how much you want to borrow? Use our calculator to find out what your repayments will be

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This page was last modified on 17 October 2016 at 13:42.

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6 Responses to Heritage Bank Home Loans

  1. Default Gravatar
    shane | December 5, 2015

    hi, i wondering if heritage bank provide home loans for newstart clients? im looking to buy a home for around 300 thousand dollars and have $178,000. i wish to put down $158k and use the remaining on stamp duty and other expenses. please let me know if there is any way this could work.

    • Staff
      Belinda | December 7, 2015

      Hi Shane,

      Thanks for your enquiry,

      As finder.com.au is an online comparison service, we cannot comment on whether Heritage Bank will provide home loans for Newstart clients as it will depend on a range of factors including any other income or benefits you receive, your assets, liabilities and credit score. Most banks treat these kind of applications on a case-by-case basis.

      However, you can learn more about home loans for Centrelink recipients on this page where you can also get in touch with a mortgage broker who can draw upon their panel of lenders to find one that’s more likely to review your application.

      Thanks,
      Belinda

  2. Default Gravatar
    Margaret | December 27, 2014

    Is there a branch in Cairns.

    • Staff
      Shirley | December 29, 2014

      Hi Margaret,

      Thanks for your question.

      There are no locations within 400km of Cairns. Please call Heritage Bank’s contact centre and they will be pleased to assist.

      Cheers,
      Shirley

  3. Default Gravatar
    Chris | April 15, 2014

    What percentage of the value of my house can I have equity line of credit?

    • Staff
      Marc | April 15, 2014

      Hi Chris,
      thanks for the question.

      This will depend on the amount you wish to borrow. If you intend to borrow up to $200,000 with the Heritage Bank Living Equity loan you might be able to borrow up to 85% of your property value. If you borrow between $200- $300,000, you might be able to borrow up to 80% of your property, and for amounts higher than this you could be able to borrow up to 75% of the property value.

      I hope this helps,
      Marc.

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