Hunter United

Hunter United is a customer-owned institution, which means it is owned by its members rather than by shareholders.

Hunted United has six branches in Newcastle and the lower Hunter region of New South Wales. The credit union has been operating for more than 50 years and has about 9,000 members.

Hunter United offers an array of home loans, including ‘standard’ home loans, investor mortgages, interest-only home loans and green home loans.

Pros:
  • Flexible payment options.
  • Specialised and package loans available.
  • Discounted rates available.
Cons:
  • High standard variable rate.
  • Monthly or annual fees on most loans.
Hunter United customer service:

Potential Hunter United loan customers can contact the bank in a number of different ways, including a general customer phone line and a line for mobile lenders. The credit union can also be contacted via an online enquiry form on the Hunter United website and by email. Customers can also meet with a Hunter United staff member in person at one of their local branches.

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

Hunter United home loans

How to Apply

Hunter United customers can apply for a home loan in a variety of ways. These include an online registration form, after which a Hunter United staff member or lender will contact you. Customers can also visit a local branch or contact a mobile lender to schedule a loan appointment. Before applying for a home loan it is advisable to think about given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Personal identification material.
  • Proof of employment.
  • Proof of income, assets and earnings.
  • Details on current debts, liabilities and loans.
  • Personal insurance documents.

About Hunter United home loans

Hunter United is a home loan lender that offers borrowers an array of mortgage options:

  • Owner-occupier mortgages
  • Investment mortgages
  • First home buyer mortgages
  • Package home loans
  • Principal-and-interest home loans
  • Interest-only home loans
  • Variable-rate home loans
  • Fixed-rate home loans
  • Split loans
  • Low-deposit / high-LVR home loans
  • Green home loans
  • Line of credit home loans

The credit union also offers 100 per cent offset accounts and redraw facilities and gives borrowers the option of making extra repayments on their home loan.

Hunter United’s home loan interest rates vary from product to product. Its owner-occupier rates range from moderately low to moderately high, while its investor rates are moderately low.

Hunter United’s application fees range from very low to moderate, while its monthly account-keeping fees range from very low to moderately low.

Maximum LVRs (loan-to-value ratios) are 95 per cent for owner-occupiers and 80 per cent for investors.

Hunter United home loan rates

Hunter United’s home loan interest rates are best described as competitive - not market leaders, but not market laggards either.

Interest rates vary from product to product and from borrower to borrower. Investors can expect to pay higher interest rates than owner-occupiers, while interest-only customers can expect to pay more than principal-and-interest customers.

For owner-occupiers, Hunter United mortgage rates range from moderately low to moderately high. For investors, mortgage rates are moderately low.

One point of difference with Hunter United home loans is that it offers green home loans. Borrowers are entitled to a discount if their property has at least three of these eight environmental features:

  • Solar hot water
  • Solar power
  • Double glazing to eastern, western and southern windows
  • Wall insulation
  • PV panels or wind turbine (minimum 1.5kw)
  • Water tank (minimum 2,000 litres)
  • External shadings to windows facing north, east and west
  • AAA-rated water efficient fittings

Hunter United home loans review

Hunter United is a customer-owned credit union that positions itself as a “welcome alternative to the big banks”.

It offers a broad, though not comprehensive, list of mortgage options, from standard owner-occupied and investment home loans to interest-only home loans, low-deposit home loans and green home loans.

One notable element of Hunter United’s home loan offering is that owner-occupiers can borrow up to 95 per cent of the value of their property (although mortgages above 80 per cent require LMI, or lender’s mortgage insurance).

That gives first home buyers the chance to enter the market sooner than if they took out their mortgage with many of the other home loan lenders in Australia.

Hunter United home loans have a maximum term of 30 years. Repayments can be made weekly, fortnightly or monthly.

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