Heritage Bank is a Queensland-based mutual bank that is owned by its customers rather than shareholders.

Heritage Bank offers a wide range of fixed and variable mortgages and charges home loan rates that tend to be below the market average.

Heritage Bank is Australia’s largest mutual bank and has branches throughout Queensland.

Borrowing Amount

Property Value

Rate Type

Heritage Bank home loans rates

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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.
Heritage Bank 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. 

  • Customer service (phone, email, branch)
  • Mobile app
  • Online banking
  • Mobile banking staff

How to Apply

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.

FAQs

Fixed rate

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

Variable rate

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Split rates home loans

A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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