Collins Securities Variable 100 percent Offset

A Collins Securities variable 100 percent offset is a savings account linked to your mortgage. This is done to allow you to offset your savings and any other earning you may wish to deposit into the account, against your home or investment loan.

A Collins Securities variable 100 percent offset loan works to your advantage by having the total balance in your offset account being offset against the balance of your loan. Interest is then calculated on the remaining net amount of your mortgage. As an example, if you happened to have a home loan with Collins Securities of $300,000 and at the same time had an amount of $20,000 in your mortgage offset savings account, you will only have to pay interest on $280,000.

Despite you only paying interest on an amount of $280,000, your loan repayments will be calculated on the original loan amount of $300,000. By doing this you will be making extra repayments which will go towards paying off your home loan debt much faster.

Earn tax free interest

You will be earning interest on your offset savings account at the same rate you are being charged on your home loan, there will be no interest accruing on your savings account, therefore there will be no interest to declare on your taxation return.

Collins Securities variable 100 percent offset loan features

Some of the major features that come with a Collins Securities variable 100 percent offset home loan include the following:

• Repayments are at variable interest and principal or interest only.
• LMI Capitalisation above 95 percent is acceptable.
• The Collins Securities variable 100 percent offset home loan is available Australia wide.
• It accepts standard residential first mortgage as security.
• Maximum loan term is over 30 years.
• Minimum loan size is $10,000 and loans can be obtained up to a maximum of $1,500,000.
• Maximum loan to value ratio (LVR) is 95%, for refinance, investment and the purchase of vacant land the LVR is 90 percent and business purposes up to 20 percent.

For the day to day management of a Collins Securities variable 100 percent offset home loan you will have the benefit of:

• Online management.
• Redraw facility.
• Visa debit card with access to your funds through ATM and EFTPOS outlets Australia wide.
• BPAY.
• Additional payments can be made at any time without penalty.
• Repayments can be made on a weekly, fortnightly or monthly basis.

Collins Securities Variable Offset Home Loan Fees

There no annual fees to pay and online withdrawals are free but you will have to pay a one off application fee of $600, a settlement fee of $275 and a loan processing fee of $150.

A Collins Securities variable 100 percent offset is an ideal home loan for individuals, the self employed as well as companies and trusts who are involved in home purchase, property investment, construction or refinance.

How to apply for a Collins Securities variable 100 percent offset home loan

By far the most convenient way to apply for a Collins Securities variable 100 percent offset mortgage is to download the account application form online. The application form has been especially designed for online usage and is easy to navigate. It can be saved to your desktop for later completion or be linked into at your convenience. To access it successfully you must have the latest version of Adobe Acrobat. Once your application is received a Collins Securities relationship manager will make contact with you to find out what additional features you may, or may not, require.

As the level of tax free interest you earn with a Collins Securities variable 100 percent offset mortgage is likely to be higher than the rate for a regular saving account, or term deposit with any other financial organisation, you should take these funds out of your other accounts and deposit them in your offset savings account. This will maximize your savings amount and cut years off your home loan repayments saving thousands of dollars at the same time.

The offset account works in exactly the same way as a normal savings account. You can pay bills from it and transfer money in and out as you wish at any time of day or night by using the online facility or ATM and EFTPOS. A good practice is to have your entire salary paid into your offset account and any saving you can make will remain in the account thereby increasing its balance.

A Collins Securities variable 100 percent offset home loan is an ideal way to pay your mortgage off sooner if can manage to keep a healthy balance in your offset savings account throughout the term of the loan. It is the best way to make your money work for you.

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Loans.com.au - Dream Catcher​	A home loan offer with a $0 application fee and one of the lowest available home loan interest rates.	5.85%	6.21%	$0 / $375	80%	$50,000 / $750,000
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