Find answers to some of the most common questions from our members
A redraw facility allows you to access extra repayments you have made on your loan. Your extra repayments are funds paid into the loan above your contracted minimum repayment. Availability of redraw facilities and redraw limits differ across product types.
Property Value, often called valuation, is the assessment of the value of your property as determined by the lender or external valuer.
This is professional who is legally qualified to assist in preparing all of the legal documents that are part of any real estate transaction. They will act for you and with you when it comes time to purchase, sell or transfer property. They can also be known as a Settlement Agent.
The settlement is the final step when buying a home. Settlement is the date the property ownership is legally transferred from the seller to the buyer. At settlement, often known as closing, all parties involved in the loan transaction sign the necessary legal documents, then they are lodged and funds transferred to your new loan account, this is when your mortgage loan responsibilities start.
An owner occupied home loan is a loan for personal purposes, available to home buyers who intend to live in the property the loan is taken out for. Owner occupancy applies to loans where the borrower is buying an existing home, building a new home or renovating and improving an established property they live in.
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