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Managing your home loan

Yes, as long as you have available funds to redraw from. You can redraw on your variable home loan directly or your 100% offset sub-account.

An offset sub-account helps to reduce the interest on your home loan by the cash you hold in the account, like salary, against your home loan. This helps you pay off your mortgage faster with less interest, while giving you the ability to access your money any time. To learn more, click here.

You can confirm your current redraw balance using our online finance management tool- Smart Money, by clicking on the "Accounts” menu and selecting the account. If you are making weekly or fortnightly payments, the available redraw balance may include some payments that you need to leave in the account for you monthly repayment due amount. Alternatively, you can contact our Customer Care team on 1300 908 671 7am to 7pm AEST Monday to Friday. We'll be happy to help.

The more you have in your offset sub-account, the more you can reduce your home loan interest payments. The key to maximising your offset benefit is to maintain a high savings balance. The first step to achieving this is to have your salary paid directly into your offset sub-account. To learn more, click here.

To access your current interest rate please log into Smart Money. Select the “Accounts” tab, then click on “Account/ BSB Details” (written in small text on the right hand side of the screen, next to the available balance figure). A pop up will appear showing your current interest rate and other repayment details.

An offset sub-account is connected to your mortgage. Money in this account is used to offset the interest charged on your home loan. Your mortgage repayments will still be the same, but more of it will go to paying off your home loan principal rather than the interest. To learn more, click here.

A redraw facility lets you make extra repayments on your variable (not fixed) home loan above your minimum repayment, then access these additional payments as required to cover any unexpected expenses. To learn more, click here.

The full discharge fees will be shown on your loan agreement. Typically, there will be $300 discharge fee and $250 discharge documentation fee. If you have a fixed rate loan, there may be a fixed rate break cost applicable as well.

You can view your current interest rate using our online finance management service, Smart Money, by clicking on the "Accounts" menu and selecting the loan account. Alternatively, you can contact our Customer Care team on 1300 908 671 (7am-7pm Monday to Friday). We'll be happy to help.

You can easily redraw on your variable home loan by using our Smart Money online login or mobile application.

Break costs are typically associated with fixed-rate home loans. You may have to pay this fee under some circumstances, such as if you decide to switch your loan to a variable-rate loan before your fixed-rate period is over.

If you're making Interest Only repayments, then your repayments will be monthly. If you're making Principal and Interest repayments, then you have the option to choose between Weekly, Fortnightly, or Monthly payments. To discuss your repayment options further, please contact our Customer Care team on 1300 908 671 (7am-7pm Monday to Friday). We'll be happy to help.

Yes, please call Customer Care on 1300 908 671 between 7am to 7pm Monday to Friday AEST to arrange the payout of the Home Loan. Our Team will provide to you payout figures and guide you through the process.

Home loan repayments

As nominated by you on your direct debit form returned with the documents pack. Our Customer Care team will also confirm your repayment dates when calling you at loan settlement.

Customers with Principal and Interest accounts can view their next repayment amount using our Smart Money service, by clicking on the "Accounts" menu and selecting the loan account. Viewing your next repayment amount online is not available for Interest Only accounts.

All customers can find out their next repayment amount by contacting our Customer Care on 1300 908 671 from 7am to 7pm Monday to Friday. We'll be happy to help.

The next monthly repayment due date for your loan account is available using our online finance management tool - Smart Money, by clicking on the "Accounts" menu and selecting the loan account. Keep in mind that this is the monthly due date, and will not consider any weekly or fortnightly direct debits. Alternatively, you can contact our Customer Care team on 1300 908 671 (7am-7pm Monday to Friday). We'll be happy to help.

A monthly principal and interest payment is calculated on the number of years, the interest rate and the loan limit (i.e. the loan balance plus any surplus funds available for redraw).

Each monthly principal and interest repayment is calculated to cover the interest amount charged and the remainder will reduce the principal/balance of the loan.

Fortnightly and weekly loan repayments are based half or quarter of the monthly repayment amount.

Taking out a home loan is an important step in the home buying process. You need to consider various factors that will affect the overall cost of your mortgage. Factors such as the interest rate, loan amount, term of the loan, repayment schedule, and the repayment type.

An online mortgage calculator can help you make an informed decision by comparing various home loan options, understand your financial capabilities and liabilities, and simplify the process of calculating your mortgage.

Consider adding an offset sub-account or refinancing your mortgage to secure a lower interest rate. If you cannot refinance, think about switching payments from monthly to fortnightly or weekly. To learn more ways, click here.

Most lenders, including loans.com.au, offer monthly, fortnightly or weekly repayments. In fact, it's rare to find a variable home loan with P&I repayments that won't let you choose your repayment schedule. If your lender doesn't then consider switching to one that does. To learn more, click here.

Yes we have calculators available that you can use on our website. You can find our full range of finance calculators here.

Please call Customer Care on 1300 908 671 between 7am to 7pm AEST Monday to Friday to set a fixed amount as chosen by yourself or the minimum loan repayment required.


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