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Heritage Bank Home Loans

Heritage Bank has been operating since 1875 and has grown to become Australia’s largest customer-owned mutual bank. What started out as the Toowoomba Permanent Building Society merged with Darling Downs Building Society to officially become the Heritage Bank. Over the years, Heritage Bank has expanded its range of financial products and services like home loans, credit cards, savings accounts and financial planning. Community is at the core of The Heritage Bank and this is further reflected in its philosophy of Putting People First.

Heritage Bank Discount Variable Loan

Heritage Bank Living Equity Loan

The Heritage Bank Equity Line loan uses the equity in your home to give you access to a line of credit. This equity loan works similarly to a credit card where the bank sets a pre-approved limit which can be used for any worthwhile purpose such as share investments, holidays or as a deposit for an investment property. The minimum loan amount is $20,000 and the loan has a maximum loan term of 30 years. This loan has a split option, which lets the borrower choose between a combination of fixed and variable interest rates. Other features worth noting are the redraw facility, 10-year interest-only term and ability to save by packaging the loan with the Home Advantage Package.

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Heritage Bank Fixed Rate Loan

The Heritage Bank Fixed Rate Loan allows borrowers to lock in a fixed rate and repayment amount for anywhere between one and five years. This fixed rate home loan is packed with features which add flexibility and give the borrower potential to save. This loan has a partial offset account and the option to make additional lump sum repayments which can be accessed through the redraw facility.

The split loan feature gives you the ability to enjoy both fixed and variable interest rates. Other loan perks include an interest-only payment option for five years, a loan switch feature and a 30-year loan term. This loan can also be bundled with the Home Advantage Package, giving you more ways to save.

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Heritage Bank Standard Variable Loan

Heritage Bank Standard Variable Loan is suitable for borrowers looking at a medium-term loan that gives them the flexibility to pay off the loan faster. Complete with 100 per cent offset account, this low rate variable loan has a maximum loan term of 30 years. If you’re determined to pay off the loan faster, you can make additional lump sum repayments and can opt for interest only for up to five years. The split loan feature gives you the best of both worlds and lets you choose between a combination of fixed and variable interest rate. Other loan perks include a redraw facility, a switch loan feature, a low variable rate and no break costs.

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Heritage Bank Home Advantage Loan

The Heritage Bank Home Advantage Loan is a package deal that can be added to the Heritage Bank Standard Variable, Fixed or Living Equity Loan. The Home Advantage package bundles together your home loan with a credit card and transaction account which can save you thousands of dollars on interest rate discounts and fee waivers. With no application fee or annual credit card fees, the Home Advantage loan is designed to help you save. Other standout features include a 100 per cent offset account, free redraw facility and discounts on insurance products.

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Home Loans from Heritage Bank

Pros
  • Variety of home loan products to choose from.
  • Package deals available to bundle this loan with other accounts.
  • Discounted rates available on some loan products.
  • Flexible loan features.
Cons
  • Some products have moderate to high loan fees.
  • Some loans have moderate to high interest rates.
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Customer Service

Heritage Bank has a network of over 60 branches spread across Brisbane, Sunshine Coast and Wide Bay Burnett areas. Home loan customers can contact Heritage Bank by calling the contact centre from Monday through to Saturday or can email the bank directly. Certain Heritage Bank loans give borrowers access to a dedicated lending specialist.

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Branch
  • Mobile banking staff
Applying and Eligibility

Borrowers wanting to apply for a Heritage Bank home loan can either complete a secure online loan application form or can call through to the Contact Centre for more support. Queensland based borrowers can apply in their local branch. Before applying for a Heritage Bank home loan, consider what you can afford to borrow and what other costs you need to factor in. To apply for a Heritage Bank home loan, you will need to supply the following information:

  • Proof of identity.
  • Proof of income and employment, whether you’re self-employed or you’re on a salary.
  • Superannuation statements.
  • Proof of three months of savings history.
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