Our Home Loan and Mortgage Products
NO DEPOSIT HOME LOAN
If you need to borrow 100% of the value of your new property the QuickDirect No Deposit home loan provides a very competitive rate as we have a cost effective internet business model that doesn’t have to pay branch overheads or broker commissions.
The QuickDirect No Deposit home loan also includes all of the features you expect to help you pay off your loan faster, including unlimited free redraws, salary crediting and flexible repayment options.
To view our current No Deposit home loan rate click here
This QuickDirect No Deposit loan is the perfect loan if you are:
- A first home buyer
- An individual with low savings or no deposit and a steady income
- A person who wants to upgrade their existing home with little or no equity
- A young professional who wants to own a home
Features include:
| Loan amounts |
Minimum Loan of $50,000. Maximum loan of $600,000. |
| Interest rate type |
Variable rate only. |
| Term |
10 to 30 years. |
| Repayment type |
Principal and Interest only. |
| Combination and splits |
Can split up to 4 accounts (will consider more). Cannot combine with other products. |
| Repayment options |
Direct Debit or Salary Crediting either monthly or fortnightly.
Internet or telephone transfers from pre-nominated account for additional repayments.
|
| Additional repayments |
Allowable with no limit on variable rate loans. |
| Redraw facility |
No minimum redraws via Internet or telephone banking to pre-nominated account. |
| Withdrawals |
Cash withdrawals not available other than electronic transfers as above. |
| Salary crediting |
Yes. |
| Ability to switch |
Can switch all or part of loan limit to another product, once LVR is less than 95%. |
| Statement issued |
Quarterly. |
| Deferred Establishment Fee |
During year 1 1.00% of original loan amount
During year 2 0.80%
During year 3 0.60%
During year 4 0.40%
During year 5 0.20%
Year 6 onward 0.00%> |
| Other Fees |
Nil |
| Substitution |
Can substitute security within loan limit. |