A very flexible loan product that enables a property owner to access to the equity in their residential property more efficiently.
Main features are:
Interest is charged only on the balance outstanding.
Interest only repayments are required. Unlimited principle reductions are allowed.
Ability to redraw back to the original line of credit limit.
Direct crediting of business, salary and investment income.
Interest can be capitalised up to the maximum loan limit.
Easy access including cheque, direct debit, access card, phone or net banking.
Can be combined with other mortgage loan products.
Evergreen facility option (no loan term).