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Do I have to be a member to apply for a loan?
Although you don't have to be a member to apply for a loan, you must become a member if the loan is approved. Learn more about becoming a member.

How much can I borrow? 
Would you like to calculate how much you may be able to borrow? Use our Loan Calculator.

What costs do I need to consider?

This could range from a minimum of 5% of the value of the property.

Registration fees
Registration fees are payable on a property purchase and on a mortgage. Whenever a property changes hands, the change of ownership must be recorded with the appropriate State Titles Office. A document known as a Transfer of Land must be lodged, the cost of which varies in each State/Territory. Please contact your solicitor/conveyancer who should perform this task on your behalf. There is also a government charge to register your mortgage document. We will pay the applicable state authority on your behalf. You will be charged at cost.

Searches and inspections
Contracts should never be exchanged until the necessary searches and inspections have been completed. Searches and inspections may include the following:

  • Title search
    A Certificate of Title obtained from the Titles Office by your solicitor/conveyancer provides details of who owns the property and who else has an interest in it. This is a good way to research if there are any mortgages, caveats, restrictive covenants etc on the property which would affect the transfer of title.
  • Building inspection and pest report
    The report completed by your building inspector will detail any building flaws, e.g. structural issues with the building or roof, damp etc. The pest report should detail any evidence of pest infestation. It will enable you to assess the cost of any required treatment.

How do I make repayments on the loan?
You can arrange to make your loan repayments either by payroll deduction, direct debit from your savings or transaction account, internet or telephone banking transfer, at any of our branches or using Bank@Post. Learn more about these repayment methods from the Savings & Investments > Access menu.

How often will I receive information on my account?
Statements are produced six monthly or more frequently on request and duplicate statements can be requested at any time from our office (fees may apply). Account information is also available through our telephone and Internet banking services.

What security is required to take out a Home Loan?
Your home loan must be secured by a registered mortgage over a residential owner occupied property.

Do I need to take out Home insurance?
Building insurance is required to be taken out equal to the amount stated in the recommendation on the property valuation.

What is a 100% Interest Offset facility?
An offset facility is a separate account linked to the mortgage, where the balance is offset daily against the loan amount.

For example: Jack and Mary owe $120,000 on their mortgage and have $20,000 in an offset account.
This means the mortgage of $120,000 is reduced by the $20,000 in the offset account leaving a balance of $100,000. As a result interest is only calculated on $100,000. However repayments continue to be made on the entire $120,000. Therefore over a number of years, your loan is paid off faster, and you save interest.

Is a redraw facility available?
Our Bank gives you the option of making extra repayments on your loan and then having the flexibility of being able to redraw on these extra repayments. Terms and conditions are available on application.

What is Lenders Mortgage Insurance?
Lenders Mortgage Insurance, if applicable, covers the Bank against a loss in the unlikely event that we have to exercise our right to sell the property due to ongoing defaults in loan repayments. It must not be confused with Loan Repayment Insurance which is designed to cover your lending obligations in the case of sickness, accident or involuntary unemployment.

What is Loan to Value Ratio (LVR)?
LVR is the percentage of money you borrow for a home loan compared to the value of the property. It is used to assess your risk factor as a borrower; the Bank will calculate your LVR before deciding whether to approve your home loan application. The higher your LVR is, the more of a risk you may be to your lender. ^

illion FAQs
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Decided on the loan that is right for you?
Apply using our simple online Home Loan application form here

Want to learn more?

  • Get in touch with one our friendly staff - we'd be happy to answer any questions you may have.
  • Use one of our Loan Calculators to work out what loan is right for you.