Home Loan Features

These flexible features explained:

We all know that a home loan with as much flexible features does certainly give you a better range of options and they can range from making extra repayments to reducing your repayments when your circumstances may chance.

Below I have outlined and explained some of the flexible features that are most common and you must be considering when choosing a home loan package.

Some home loan features to consider are:

  • Extra Repayments:
    This feature allows you to make as many additional repayments as you like to reduce interest payments
  • Redraw:
    This gives you access to any additional money you've built up in your home loan. You can access this amount and use it for any purpose anytime
  • 100% Offset:
    This is where every dollar in your transaction/ savings account, which is linked to your home loan, reduces the balance in your loan on which your home loan interest is calculated
  • Portability:
    This feature allows you to take your home loan with you when you move to another property
  • Top, Up:
    A feature that allows you to increase the limit on your existing home loan Construction: This allows you the option progressive repayments to builders
  • Lo-Doc:
    If you are self-employed, you don't need a standard income verification documents, (other conditions may apply, depending on the lender)
  • Parental Leave:
    This feature does allow you to reduce your repayments by up-to 50% or up- to 6 months when a new baby comes along.
  • Repayment holiday:
    Some lenders have this feature in their loan products which allows you to, if you have built up extra funds in your home loan, stop making repayments for a short while. (depends on the particular lender as to the length of time you can stop)



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