Newcastle Permanent Real Equity
Equity home loans are variable rate line of credit loans that are secured against your home. These loans allow you to actually use the equity you have gained on your house and use it instead of it just sitting there. The whole package will help you use the equity in your home to gain additional funds while being able to pay off the loan quickly by using the many features linked to the loan.
The features of the Newcastle Permanent Real Equity
The Newcastle Permanent Real Equity home loan offers a range of features. These features are:
- How much can you borrow. The Newcastle Permanent Real Equity home loan allows you to borrow up to 90% of the value of your home.
- You can make additional repayments. The Newcastle Permanent Real Equity home loan allows you to make additional payments whenever you would like. This can help pay off the loan quicker and reduce the total amount charged to your loan account by reducing the interest. In addition to this you can redraw the additional funds at anytime. This facility allows you to store money on your loan to reduce interest charges while still having access to your money in the future.
- You can split the loan. The Newcastle Permanent Real Equity home loan allows you to split the loan into two portions. The Newcastle Permanent Real Equity home loan allows you to split the loan between a Real Equity Home Loan with either a fixed or variable rate home loan. This will allow you to reduce the amount you pay if the interest rates rise while still benefiting while interest rates are lowered.
- Mortgage offset facility. The Newcastle Permanent Real Equity home loan provides you with an offset account. With the offset account you can move all your savings into the one account that is linked to the loan. The interest charged to the loan account will then be lower as the savings act as if they are on the loan account. This is a great way to have your savings available to you if you need them but you also save money on interest.
- The loan is portable. You have to move houses while you are still paying off the loan the Newcastle Permanent Real Equity home loan has a portability feature that allows you to take your home loan with you. This allows you to avoid the fees and charges that are associated with applying for a new loan. In addition to this you will time by not having to apply for the loan.
- Fees. There is an initial establishment fee of $400 and ongoing account keeping fees of $9 a month.
The home equity home loans allow you to use the equity you have gained in your house to receive some extra money. This allows you to use a formally unusable for of money that you are entitled to use. The Newcastle Permanent Real Equity home loan provides a great home equity loan with a low interest rate and many features to help you save. Additional features such as the mortgage offset facility and the ability to make free additional repayments allows you to reduce the amount of interest that you pay on the loan and save you money. Please contact us to find out more about this home loan.
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