Unlock the equity in your home
If you’re a homeowner, before you put that next big purchase on your credit card, you may want to consider a line of credit on your home loan.
Laine GordonSep 6, 2011( 3 min read )
Package Fixed Home Loan (Principal and Interest) 3 Years
Smart Home Loan
special
Get one of the lowest variable interest rates on the market and pay no application or ongoing feesGet one of the lowest variable interest rates on the market
Advertised Rate
2.88%
Variable
Comparison Rate*
2.90%
Smart Home Loan
No ongoing feesExtra repayments + redraw services
View NowAdvertised Rate
2.99%
Fixed - 3 years
Comparison Rate*
4.07%
Maximum LVR
95%
Monthly Repayment
$1,421
Pros and Cons
Pros
- No upfront fees
- Suitable for low deposits
- Parents can sign as guarantor
- Repayments will not change during fixed period
Cons
- Limited extra repayments
- No redraw and no offset
- Annual fee charged
- Discharge fee at end of loan
People's Choice Credit Union Fees and Features
Maximum LVR 95% | Interest rate structure Fixed - 3 years |
Borrowing range $100k - $100m | Total Repayments $426,300 |
Principal & interest | Interest only |
Loan term range 1 - 30 years | Offset account No |
Extra repayments Allowed with restrictions | Redraw facility |
Allows split interest | Suitable For Owner Occupiers |
Applicable States ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Estimated upfront fees $0 | Application fee $0 |
Settlement fee $0 | Valuation fee $0 |
Legal fee $0 | Ongoing fee $395 |
Discharge fee $350 | Property Type |
SMSF Trustee | Minimum SMSF Amount |
Compare and review home loans with similar features
People’s Choice Credit Union dates back to 1949 and is now one of Australia’s largest credit unions. The organisation was created through the merger of Australian Central and Savings & Loans in December 2009. Member-owned, its customers get a say in how the credit union is run. People’s Choice meets the same regulatory standards as banks and provides a wide range of financial products and services, including home loans, business accounts, and savings and investment products as well as financial advice.
People’s Choice Credit Union Home Loan Calculator
Interested in an People’s Choice Credit Union home loan? RateCity has a suite of calculators that can show you what your repayments would be and how People’s Choice Credit Union compares to its competitors. Simply plug in your borrowing amount below.
