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Heritage Bank Home Loan 4.39% (4.44% Comparison)

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Heritage Bank Home Loan 4.39% (4.44% Comparison)
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jontymate on 16/01/2015 - 12:53 heritage.com.au (319 clicks)

At only 4.39%PA (4.44%PA comparison rate†), our Discount Variable home loan offers one of the lowest rates of any variable home loan in Australia, and right now it’s on special. Apply now and you’ll get 0.60% off our normal Discount Variable rate for the life of the loan#. With no monthly admin fee, and a bunch of great features, it’s the freedom of a variable rate, at the price less than most banks’ fixed rates. To apply now, visit your local branch or call us on 13 14 22 today!

  • Low variable home loan rate
  • No monthly administration fee
  • Further advances available
  • Reborrow facility available
  • Minimum from $150,000
  • No offset account available
  • Interest Only option for investment loans up to 5 years
  • Option to make additional or lump sum repayments without penalty
  • First valuation fee paid by Heritage up to maximum $3301

If you are good at negotiation you might gateway with $600 of application fee.

When a referred friend or family member who doesn't have any existing Heritage accounts opens a Heritage home loan within three (3) months of becoming a Heritage customer, both the new customer and the referrer will receive a $250 pre-paid Visa gift card. The gift cards will be mailed once the home loan is approved and funded.

When a referred friend or family member who doesn't have any existing Heritage accounts opens a new Heritage membership and one of the products listed below, both the new customer and the referrer go in the draw to win a $1000 pre-paid Visa gift card each:

Wiki Heritage bank referrals

you could save thousands $$$$$ by just refinancing…

Referral Links

$250 Gift Card with Loan: random (43)

When an existing Heritage member refers a new member and that new member has a Heritage home or business loan approved and fully funded within 3 months of the membership creation, both the new member and the referrer receive a $250 pre-paid Visa gift card.

Win $1000 with New Account: random (55)

Referrer and referee go into the draw to win a $1000 prepaid visa gift card each. Tell heritage you were referred and give them the member number.

Financial Home Loan Loan

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closed Comments

  • 2pro4sho on 16/01/2015 - 13:12

    I spoke to someone at Heritage today who told me this special offer ends this Saturday.

    • jontymate on 16/01/2015 - 13:21

      This has been going for months now and it is very likely that they will extend it.

      • 2pro4sho on 19/01/2015 - 19:57

        Nope. Finished.

        • jontymate on 20/01/2015 - 09:30

          Ya i know that's y I marked it as expired

  • flashi007 on 16/01/2015 - 13:24

    No offset account - why not?

    • rygle on 17/01/2015 - 10:52

      They likely have other packages with offset. Mine has it and is called the "Professional Package" but started 5 years ago. We had to borrow 250K to qualify if I remember correctly but it also got us a permanent .25 percent interest discount and some other stuff. We went through a broker and at the time it was by far the best deal. We borrowed more than we needed to get the package then paid back 30K in a lump sum after the dust settled.

  • tomleonhart on 16/01/2015 - 13:24

    Great rate if you don't need an offset account :D

  • jontymate on 16/01/2015 - 13:26

    use ur home loan account as offset..you can add as much money as you want into it and withdraw in-case you need it back with $20 fee.

    • [Deactivated] on 16/01/2015 - 13:29

      As other's have mentioned - if you decide to down the track rent out the property - the withdraw method reduces the ammount of interest you'll be able to claim

      Also interested to know why they don't offer an offset.

    • tomleonhart on 16/01/2015 - 13:32
      +1

      "use ur home loan account as offset..you can add as much money as you want into it and withdraw in-case you need it back with $20 fee."

      And later down the track when you decided you want to turn that property into an investment, miss out on thousands dollar worth of tax deductible.

      • jontymate on 16/01/2015 - 13:39

        you could always change the bank down the track if it doesn't match ur requirements. save as much as you could during that time.

        • delfredo on 16/01/2015 - 15:28

          Down the track the economy or the financial markets might turn. Everytime you do a refinance, you are subject to prevailing valuation at that point in time. That means the amount you can borrow upon refinancing may be less than the amount you got now. A change in economic climate may affects jobs and income too. You'll need to go through credit assessment again and while your financial position may not have changed, credit criteria of the lender might. There's a lot at stake.

        • tg on 16/01/2015 - 18:36

          The maximum deductible debt can only stay the same or go down (when you put money back to your Heritage homeloan).
          It cannot be increase/restored by refinance.

  • arctan on 16/01/2015 - 14:18

    too bad no offset account

    • tg on 16/01/2015 - 18:38

      Not a big drama if you already have an offset account linked to another investment loan.

  • tooblue on 16/01/2015 - 15:19

    No offset account available!
    At least they could provide a fee-free redraw facility as alternative. $20 is too much.

    • Russ on 16/01/2015 - 18:47

      It depends - if you are saving $20 (or more) per month, and redrawing less than once per month, it's still a net gain.

      Even with the minimum loan of $150000, that's $555/month of interest at 4.44%. If you are currently on 4.6%, that's $575/month in interest - $20 difference.

      So even at the minimum loan amount, if you are currently on 4.6% or higher, you can redraw every month and be no worse off.

  • Repstar on 16/01/2015 - 19:13
    +1

    no offset = shit

    • bongoman on 17/01/2015 - 11:05

      not everyone has truckloads of cash for an offset - some would just be happy with $30 less a week in repayments.

  • spider man on 17/01/2015 - 05:14

    application fee ?

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