Our home loans
Apply before 30/9/21 and get approved and funded by 30/11/21.
For loans over $250,000 with an LVR <80%. $2,000 cashback available with LVR >80% and above. Exclusions and lending criteria apply. Click for full T&Cs. People's Choice Credit Union (People's Choice).
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What you need to know
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Most popular questions
- If you choose a variable rate home or investment loan, the interest rate can rise or fall depending upon the market and economic conditions. This can potentially impact your repayment amount. On a variable rate, you have the flexibility to make unlimited extra repayments without a fee applying, to pay down your loan sooner.
Choosing a fixed rate home or investment loan means you can lock your interest in at a set rate for one to five years. So if you think interest rates have hit rock bottom or that rates may rise, you can add certainty to your loan by fixing your repayments for a set period.
If you're still not sure about which option is right for you, we're happy to help you make the right decision. Call us on 13 11 82 or visit your nearest branch for more details.
If I select to lock in a rate for my new fixed rate package application, how long is the rate guaranteed for?This rate will be held for the 90 day ‘Approved Period’ from the date that the completed rate lock form is received by People’s Choice Credit Union. This 90 day rate guarantee does not extend beyond the expiration date of the conditional loan approval.
- At the end of the fixed period, the loan will revert to the variable rate package unless we agree otherwise, but you can talk to us if you’d like to re-fix your rate or review our other home loan options. If your loan reverts to the variable rate page, the interest rate applicable will be determined by your total loan balance at that time.
- You can make additional repayments up to $10,000 per anniversary year. Break Costs may apply for repayments above the $10,000 limit. Redrawing the additional repayments is not permitted. Splitting your loan with a variable rate product can allow you to make unlimited extra repayments on the variable portion without incurring any Break Costs whilst still having the security of having a fixed interest rate on a portion of your loan.
- Yes, our Basic Variable Home Loan enables you to make unlimited extra repayments.
Can I switch to a fixed interest rate if I have a variable interest rate loan and I think interest rates are going to rise?Yes, if you want to switch to a fixed interest rate, get in touch with us so we can talk through your options.
- An offset facility is available on our Variable Home Loan Package. Linking an offset account to your loan may help you reduce the interest payable and time taken to pay off your loan.