If you live in the local area of Wauchope, New South Wales, then you may have to read about home loans offered by Holiday Coast Credit Union.
Holiday Coast Credit Union provides financial services and advice to its members, with an extensive network of branches throughout the mid-North Coast and Hunter regions of NSW. On 1st July 2019 Holiday Coast CU officially merged with Regional Australia Bank. For more information please contact the lender.
Holiday Coast CU merger
On 1st July 2019 Holiday Coast CU officially merged with Regional Australia Bank. For more information please contact the lender.
Who is Holiday Coast Credit Union?
Holiday Coast Credit Union's loans are useful for those purchasing a house for the first time, as well as those who are renovating and investing. You will need to become a member of the credit union in order to access these loans, but the cost of a membership is negligible. The credit union also provides members with handy savings and loan calculators, as well as home loan specialists to help guide applicants through the process. You can choose a loan with the right term, fee structure, rates and benefits to fit your financial requirements.
Home loans offered by Holiday Coast Credit Union
Home Sweet Home
This loan is ideal for first home buyers. It has a variable interest rate which can be split, and interest-only as well as extra repayments are allowed. There is no application fee but the loan does attract an annual fee. This loan comes with an offset account and there is a redraw facility in place. You can also take a break from loan payments when you are on maternity leave.
Live Life Loan
The Live Life Loan has a variable interest rate that is useful in refinancing other loans and mortgages, as well as funding renovations. It has a variable interest rate that can be split. Extra repayments are allowed and are available as principal and interest payments only. There is an offset account and a redraw facility available with this loan, while a monthly fee and an application fee also applies. You receive a Visa debit card with no annual fee with this loan, along with the option of being able to skip a loan payment at Christmas time.
Keep it Simple home loan
This is a basic variable interest rate home loan that can save you money from ongoing fees. There is no penalty for early payout of the loan, allowing you to repay the home loan as soon as you can. The interest rate can be split, and there is no application fee to worry about. There are no fees associated with extra repayments, but extra repayments are for interest-only periods. The loan does not, however, offer a redraw facility or come with an offset account.
Live Life Equity home loan
This is a variable interest loan that combines many of the features of the Live Life Loan and Holiday Coast Credit Union's popular personal loan. The Live Life Loan comes with an offset account and a redraw facility so you can access funds if you need to. There is no penalty for paying off your loan before the loan term ends.
Fixed N' Easy home loan
The Fixed N' Easy home loan offers the peace of mind of knowing that the interest rate, as well as the loan term, is locked in. Interest-only repayments are welcome up to a set limit but there is, however, no redraw facility. This loan is useful for people who are looking to increase an existing variable rate loan and convert it to a fixed term loan.
Pros and cons of Holiday Coast Credit Union home loans
- Flexible options for your time of need. Holiday Coast Credit Union has loans that offer payment breaks for maternity leave, a deferred first payment and a break from payments around Christmas time.
- No repayment penalties. You can make additional repayments without any penalties or fees on all of Holiday Coast Credit Union's loans.
- Customer-owned assurance. Since Holiday Coast Credit Union is customer owned, it is designed to operate in the interests of its members.
- Only one option for a fixed rate. Only the Fixed N' Easy home loan offers a fixed interest rate. It also does not come with a redraw facility or any offset options, making Holiday Coast's fixed-only loan less appealing.
- Members only. In order to receive any of these loans you must be a Holiday Coast Credit Union member.
How to apply for a Holiday Coast Credit Union home loan
To apply for a home loan from Holiday Coast Credit Union, please contact a mortgage broker.
- A mortgage broker will contact you. This should take one to three business days depending on the nature of your enquiry.
- Make sure you have home insurance. Your loan process may be delayed if you do not own building insurance on the property you are buying. Make sure to have a policy in place.
Documents needed to apply for a Holiday Coast Credit Union home loan
To apply for a home loan with Holiday Coast Credit Union you'll need to supply information about your finances, the property you're purchasing, and your personal situation. This means you'll need to supply identification, details about your income, assets and any financial liabilities or debts you have, and any other information Holiday Coast Credit Union deems important.
When looking for a loan it's important that you weigh each option you are faced with. Always compare home loans before making a decision, or consult your options with a mortgage broker.