Whether you are investing, renovating or just want access to ongoing credit, the Greater Bank Line of Credit Loan can be tailored to your needs. Make repayments weekly, fortnightly or monthly and enjoy the insurance of knowing you can borrow 90 per cent of the value of the property you are purchasing.
The Greater Bank Line of Credit Loan doesn’t have an offset account but it does have a redraw facility that means you can make arrangements for expenses later on down the road. The loan also allows for extra repayments to be made, helping you to pay off your loan in your own time frame.
This loan is particularly good for someone who wants to capitalise on the existing equity in their loan to get ongoing access to funds. Whether it’s for renovating your home or undertaking another investment, a line of credit loan is a viable option for a savvy investor.
It is the flexibility and variety of options that make this loan stand out, particularly for investors and home owners with an eye on expanding or renovating their property. Variable rates will appeal to buyers who want to take advantage of potential low interest rates and the minimal monthly fee is also attractive.
While the Greater Bank Line of Credit loan’s higher than average upfront fee is a hurdle before you can start to pay off your loan, the interest rate is relatively low for a line of credit mortgage.
The Greater Bank Line of Credit Loan is geared towards getting the equity in your home working more efficiently for you, whatever your position on the property ladder.