Southern Cross Credit Union Platinum Variable Home Loan

The Southern Cross Credit Union Platinum Variable Home Loan has reasonable rates and a 100% offset account.

The Platinum Variable Home Loan from Southern Cross Credit Union is a variable mortgage with rates for homebuyers, investors and construction purposes. A 100% offset account lets you offset your savings against the loan principal to reduce your interest charges.

You can borrow up to 95% of the property's value. Keep in mind that if your deposit is below 20% you may have to pay lenders mortgage insurance.

$1,000 cashback offer

Borrowers taking out a new principal-and-interest owner occupier Platinum Home Loan with a minimum loan amount of $250,000 can receive a $1,000 cashback. To qualify for this offer you must apply between 1 October and 30 November 2019 and settle by 31 January 2020.
The cashback will be deposited into an account linked to the loan. Other conditions may apply.

Interest Rate Max Insured LVR Max LVR
Construction (Investor, IO)
4.38% p.a.
Comparison Rate
4.81% p.a.
80% 80%
Construction (Owner Occupier, P&I)
3.68% p.a.
Comparison Rate
4.13% p.a.
80% 80%
Variable (Investor, IO)
4.38% p.a.
Comparison Rate
4.77% p.a.
80% 80%
Variable (Investor, P&I)
4.08% p.a.
Comparison Rate
4.48% p.a.
80% 80%
Variable Rate (Owner Occupier, P&I)
3.68% p.a.
Comparison Rate
4.09% p.a.
95% 80%
Product NameSouthern Cross Credit Union Platinum Variable Rate Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$250,000
Maximum Loan Amount$750,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Lender's Legal Fee$430 (Trust Deed Review $132)
Valuation Fee$300
Ongoing Fees$400 p.a.
Discharge Fee$300


  • Rates for construction and investment
  • 100% offset account
  • Redraw facility


  • There is a $400 service fee
  • There is a $$430 (Trust Deed Review $132) legal fee
  • There is a $300 valuation fee
  • There is a $300 discharge fee

What do I need to know about this loan?

This mortgage has different rates for interest-only and principal and interest repayments. Extra repayments are also allowed. The loan has split and redraw facilities but is not portable.

What are the features and benefits of the Southern Cross Credit Union Platinum Variable Home Loan?

  • Loan amount. This loan lets you borrow up to $750,000.
  • Loan purpose. This loan has rates for homebuyers, investors and borrowers who wish to construct a home.
  • Offset account. Minimise your interest charges and pay off your loan faster with a 100% offset account.
  • Extra repayments. Extra repayments are allowed.
  • Redraw. If you make extra repayments on this loan you're able to redraw them to spend. Minimum redraw is $500.
  • Split facility. This loan has a split facility, allowing you to split the mortgage into fixed and variable portions.

What fees and charges come with this loan?

The Southern Cross Credit Union Platinum Variable Home Loan has a few fees to watch out for, some upfront, and one ongoing service fee.

  • Service fee: $400. This fee is charged annually.
  • Legal fee: $430 (Trust Deed Review $132). This covers the lender's legal costs when settling the loan.
  • Valuation fee: $300. This covers the cost of having your property valued.
  • Discharge fee: $300. You pay the discharge fee when you end the home loan.

How do I apply for this loan?

To apply for this mortgage or to get more information, click the green button and leave your details with Southern Cross Credit Union. Then a Southern Cross Credit Union mortgage specialist will get in touch and you can start your application.

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Southern Cross Credit Union Platinum Variable Rate Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    / $400

  • Max LVR


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