Coastline Credit Union Investment Property Loan

Features

The Coastline Credit Union Investment Property Loan gives you the freedom to choose from weekly, fortnightly or monthly repayment options and also gives you the choice to make unlimited extra repayments.

The Coastline Credit Union Investment Property Loan doesn’t have a 100 percent offset account but the redraw facility is unlimited as long as you meet the minimum withdrawal amount.

For borrowers looking for the best of both fixed and variable interest rates, this loan allows you to split the loan and enjoy a little more predictability over your repayment amounts.

This Coastline Credit Union loan has no interest only option but does offer loan repayment insurance which can cover your loan repayments if you’re unable to work or you pass away. Loan repayment insurance is paid monthly in addition to the ongoing monthly fee of the loan.

For borrowers looking for future flexibility, this Coastline Credit Union loan lets you access the equity you’ve built up and use it to either renovate or invest into an additional property.

Borrowers can take up to 90 percent of the purchase price, however anything over 80 percent may require you to pay lenders mortgage insurance.

When it comes to interest rates, the Coastline Credit Union Investment Property Loan has a moderate variable rate.

Who is the Coastline Credit Union Investment Property Loan good for?

Borrowers looking for a future-focused home loan will benefit from the features of the Coastline Credit Union Investment Property Loan.

Borrowers looking for a little more certainty in their loan repayments can buffer themselves from the moderate variable interest rate by splitting the loan.

Review - What RateCity says

While the Coastline Credit Union Investment Property Loan doesn’t offer as many features as some of the other loans on the market, this variable rate loan does offer freedom without the fuss.

The flexibility to tailor your repayment schedule may be a popular option, but the lack of offset facility and ongoing monthly loan fees might make this loan less appealing to investors. High upfront costs should also be factored in when considering this mortgage.

Owner-occupiers planning future renovations might find value in the loan’s equity access option and borrowers with young families might find the option of loan repayment insurance appealing.

 

Coastline Credit Union has a handful of branches across the mid-north coast of NSW, so borrowers looking for face-to-face customer support might be limited in their options. 

Coastline Credit Union Investment Property Loan Options

Click the link to find out more about the Investment Property Loan from Coastline Credit Union.

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Fixed Rates from

3.84%

Advertised rate

4.99%

Comparison rate

Variable Rates from

3.66%

Advertised rate

3.82%

Comparison rate
Pros
  • Extra repayments allowed.
  • Flexible repayment options.
  • Option to split the loan.
Cons
  • No 100 percent offset account.
  • No interest only option.
  • Ongoing monthly fees.
Eligibility

Provide proof of income.

Provide a list of assets and liabilities.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Investors
  • Refinancers
Fees
  • Estimated upfront fees: $805.00
  • Discharge fees: $200
  • Ongoing fees: $0 - $8 monthly

The Coastline Credit Union Investment Property Loan has relatively high upfront fees. There is a small ongoing monthly fee as well as a discharge fee for when the loan ends or if you decide to refinance with another lender.

When combined with an Access account, you will have the option to save on transaction and account fees.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Coastline Credit Union

Coastline Credit Union is based on the mid-north coast of NSW and has limited branch access in this region only. However, members have access to ATMs Australia-wide.

Coastline Credit Union offers a range of personal finance products, including home loans, every day banking and savings accounts as well as credit cards and insurance products. 

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