FAQ

Most popular questions...

• I want to refinance away from a Line of Credit – can you help?

  We suggest a discussion with one of our home lenders who will conduct a home loan needs analysis to discuss your individual needs and goals. They will then base their recommendation on the best product for you to move into.

• What happens if I have a current Line of Credit or Line of Credit Package application in progress?

  Your home loan consultant will be in touch to talk about different options if needed.

• I currently have a Line of Credit or Line of Credit Package Home Loan – what happens to me?

  You will see no change to your accounts. You won’t be able to increase the Line of Credit in the future, but our home lenders can help you make an informed decision for the best home loan product to move across to.

• I was looking at getting a Line of Credit, what other options do I have now?

  People’s Choice offers many different options for our members and can suggest a product based on your financial goals.

  The closest equivalent is a Variable Home Loan that allows offset (Standard Variable or Package Variable) with interest only repayments for the first five years, coupled with a credit card. All transactions are completed on your credit card account by paying it off from your offset account at the end of the interest free period, providing the benefit of your at call funds in your offset account offsetting the loan over this period. You can reapply for another 5 years interest only at the end of the term. If you prefer not to have an interest only loan this works just as well with a principal and interest loan.