Northern Beaches Credit Union Home Loans

Rates and fees last updated on
Northern Beaches Credit Union Home Loans

Northern Beaches credit union offers competitive home loans and investments products to help you manage your money.

Northern Beaches Credit Union (NBCU) has provided a number of financial services since 1964, primarily in and around Sydney’s Northern Beaches. Its range of products and services includes home loans, car loans, personal loans, business loans, credit and debit cards, transaction and savings accounts, as well as insurance, travel and financial planning solutions.


Compare Northern Beaches Credit Union 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
3.69%
3.75%
$600
$0 p.a.
80%
A low interest rate variable home loan with no ongoing fees.
4.10%
4.16%
$600
$0 p.a.
95%
4.51%
4.57%
$600
$0 p.a.
95%
5.17%
5.24%
$600
$0 p.a.
95%
3.65%
5.13%
$600
$0 p.a.
95%
3.79%
5.14%
$600
$0 p.a.
95%
4.37%
4.82%
$600
$395 p.a.
95%
3.85%
5.05%
$750
$0 p.a.
95%
A fixed home loan with 100% offset account plus no ongoing fees.
3.99%
4.99%
$750
$0 p.a.
95%
3 years fixed rate loan with redraw facility and maximum LVR of 95%.
4.25%
5.46%
$750
$0 p.a.
80%
Ability to make extra repayments during the fixed term.

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Northern Beaches Credit Union home loans

NBCU is a locally owned and operated credit union that aims to provide the best financial solutions for its members. As well as a wide variety of other financial products and services, NBCU offers its customers an array of home loans. These include loans for first-time home buyers and investors, loans with variable and fixed rates, as well as basic loans and loans loaded with features. NBCU also offers an interest-only loan and a home equity loan.


Home loans offered by Northern Beaches Credit Union

Totally Local Introductory home loan

This variable rate home loan is ideal for first-time home buyers, as well as those looking at buying investment property or refinancing alternatives. It offers a low interest rate for an introductory period, which then reverts to the Minimiser Loan interest rate.

This loan does not attract any approval, account-keeping, or ongoing loan service fees, although it does attract an establishment fee. It offers flexible repayment options with no penalty for early repayments, and it comes with redraw and top-up facilities.

Minimiser home loan

This is a basic loan that comes with minimal features but allows you to make additional repayments if you choose to pay your loan off sooner. It suits home buyers and investors alike and comes with a discounted interest rate.

This loan allows you to make flexible repayments, doesn’t charge any penalty for early repayment, and comes with redraw and top-up facilities. There are no account-keeping fees, although it does attract an establishment fee.

All in One home loan

The NBCU All in One Home Loan is ideal for people who are looking for loans with offset accounts. It is available for home buyers, investors, or anyone looking to refinance an existing mortgage.

This variable rate loan comes with an offset savings account and you also get a limited number of free transactions through your access account. There are no ongoing loan service fees, no penalties for early repayments, and you can choose from flexible repayment alternatives to suit your financial situation. Redraw and top-up facilities are also available.

Two and three year fixed home loans

NBCU offers Two- and Three-year Fixed Rate Home Loans which are ideal for people who want to know exactly what to expect during the initial period of the loan. These loans offer flexible repayment options, come with redraw facilities, and do not attract account-keeping fees. While these loans do not feature early repayment penalties, breakaway costs apply if you choose to pay off your loan within the fixed rate period.

Home Equity Loan

NBCU’s Home Equity Loan gives you the ability to borrow money against your home’s equity, which is the difference between your home’s current value and how much you still owe on your existing mortgage. You can use the borrowed money for just about any purpose.

This loan comes with redraw and top-up facilities, and there is no early repayment penalty. There are also no account-keeping fees and you have the option of choosing from flexible repayment alternatives.

Other home loans

NBCU also offers an Investment Loan and an Interest-Only loan. The Investment Loan does not attract any account-keeping or loan service fees, but it offers flexible repayment options and comes with a redraw facility. The Interest-Only loan gives you the ability to profit from any resultant capital gain, plus it waives ongoing loan service fees and you won’t have to pay an early repayment penalty.

About how to compare home loans


Pros and cons of Northern Beaches Credit Union home loans

Pros

  • Repayment options. Most home loans offered by NBCU give you flexible repayment options which allow you to make weekly, monthly or fortnightly repayments. This lets you tailor your loan to your financial situation.
  • Fee discounts. Most NBCU home loans come with some kind of fee waiver to help make your money go further.
  • Membership benefits. When you get an NBCU home loan you become an NBCU member, and this membership has lifelong validity. As a member of this credit union you stand to receive better rates for loans and deposits.
  • No early repayment penalties. Irrespective of which NBCU home loan you choose to apply for, you can pay the loan off as quickly as you want to without worrying about incurring early repayment penalties. If you choose to pay off an interest-only loan during the fixed rate period, however, break costs apply.

Cons

  • Limited outreach. NBCU has only four branches, all in Sydney’s Northern Beaches area.

How to apply for a Northern Beaches Credit Union home loan

If you would like to apply for a home loan from NBCU, please consult a mortgage broker. To apply for an NBCU home loan you must be over 18 years of age and an Australian citizen or permanent resident. There are three ways to apply for an NBCU home loan.

Documents needed to apply for a Northern Beaches Credit Union home loan

Personal information

You will need to submit personal information so NBCU can verify your identity. Documents that help establish your identity include:

  • A current Australian or New Zealand passport
  • A current Australian driver’s licence with your photograph
  • A current NSW Photo Card with your photograph

Property information

Property information relates to the property you wish to purchase. This information helps establish ownership of the property, and documents you will have to supply include the Transfer of Land Certificate, Certificate of Title and the Contract of Sale.

Financial information

NBCU requires your financial information to establish your ability to repay a loan and determine how much you can borrow. You will have to submit the following:

  • List of liabilities. This includes credit cards, personal loans, car loans and lease agreements.
  • List of assets. This includes homes, vehicles, savings and investments.
  • Earnings from all sources.
  • A list of recurrent expenses.

If you live in or around the Northern Beaches area, the home loans offered by the Northern Beaches Credit Union do present some viable options. Make sure, however, that you compare your options before making a decision.

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This page was last modified on 13 September 2017 at 11:49am.

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