Mortgage House Equity Gold Loan


The Mortgage House Equity Gold Loan has a minimum loan amount of $20,000 and no maximum, with a maximum loan term of 30 years.

Customers can borrow up to 90 per cent of the value of the property, however lender’s mortgage insurance will be charged on loans over 80 per cent.

Repayments can be made weekly, fortnightly or monthly as either principal and interest or interest-only payments.

Additional repayments are also permitted and customers can use a free redraw facility to access these payments. However, there is no offset account included in the line of credit loan.

The loan can be split with a portion fixed and a portion variable.

Who is the Mortgage House Equity Gold Loan good for?

The Mortgage House Equity Gold Loan is good for homeowners wanting to use the equity they own in their property as a line of credit loan to fund renovations, purchases or other expenses. 

Investors may be attracted to the option for interest-only payments.

Review - What RateCity says

The Mortgage House Equity Gold Loan is a variable line of credit loan that uses your equity in a property as security for a large credit loan.

Customers have the option to make additional repayments and redraw on these payments, which may provide more flexibility in how and when the loan is used, as well as suit those looking to repay the loan more quickly.

However, the loan charges upfront and annual fees, which affect the comparison rate of the loan and therefore may influence the total amount repaid. This may make it more suited to those definitely requiring access to a large line of credit, as otherwise customers will be paying unnecessary fees for access to their home equity.

The loan is similar to a large credit card and therefore may require discipline and foresight as the higher interest rate and size of the loan may result in more interest being paid over the life of the loan.

Ultimately, the Mortgage House Equity Gold Loan is a fairly moderate line of credit loan that gives homeowners access to a large credit amount and may be worth considering for those planning renovations, investments or other purchases in the near future.

Mortgage House Equity Gold Loan Options

The Mortgage House Equity Gold Loan is a variable line of credit loan for owner-occupiers and investors.

  • Additional repayments allowed.
  • Flexible repayment options.
  • Moderate rate.
  • Upfront and annual fees.
  • Limited branch access.
  • No construction option.

Must be over 18 years of age.

Must be a citizen or permanent resident of Australia or New Zealand.

Must meet Mortgage House’s serviceability criteria.

About Mortgage House

Mortgage House is an Australian mortgage broker based in North Sydney and has offices in NSW, Victoria and Queensland.

They can be contacted online, via email, in person or by phone, although opening hours may vary by office.

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