The Encompass Credit Union Variable Home Loan lets borrowers make additional repayments at any time, to help reduce the loan faster than standard repayments would allow, without charging any penalty fees. A redraw facility is also available so that borrowers are able to access any funds put toward repayments, if those funds are needed elsewhere. Borrowers also have access to a 100 per cent offset account, which could help pay of the loan sooner since any funds deposited into the offset account reduces the amount of interest charged on the loan as it is offset against the remaining loan balance. This loan has a moderate variable interest rate that moves with market rates.
Who is the Select Encompass Credit Union Standard Variable Loan good for?
The Variable Home Loan could suit borrowers looking for a loan that offers flexibility in terms of payment control through making additional repayments and redraws and through using the 100 per cent offset account.
Review - What RateCity says
The Select Encompass Credit Union Variable Home Loan offers flexibility to borrowers through the offset and redraw facilities and the ability to make additional repayments to pay this loan off sooner. The variable interest rate is moderate, but borrowers can save through making additional repayments and use of the 100 per cent offset account.
Select Encompass Credit Union Variable Home Loan Options
More information about the Select Encompass Credit Union Variable Home Loan is at the provided link.