Heritage Bank may be based in Queensland, but it provides home loans to borrowers all over Australia, whether directly from its branches or via mortgage brokers.
Heritage Bank’s bread and butter is owner-occupier home loans and investment home loans, both at the time of purchase or through refinancing. But it also offers specialist mortgage products such as lines of credit, bridging loans, SMSF loans and reverse mortgages.
Heritage Bank home loans can be principal and interest or interest-only, while borrowers can also choose for their mortgages to be variable, fixed or split.
In terms of interest rates, Heritage Bank tends to be at the cheaper end of the market, with mortgage rates tending to be very low, moderately low or moderate.
Its fees, though, are more likely to be moderate rather than market-leading. Those fees include application fees, monthly account-keeping fees and redraw fees.