Line Of Credit

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Take the Line of Credit as a sub account within a split loan, which has up to 4 loan accounts allowed. Otherwise it can be a stand alone facility.

Loan Size

$30,000 up to $750,000 if taken as stand alone; and $30,000 up to $2 million if taken in combination with a standard account.

Purpose

Any worthwhile purpose.

Term

30 years.

Repayments

Interest Only for 15 years (revolving credit period) reverting to Principal & Interest over the balance of the loan term.

Repayments are collected on the 2nd business day of the following month by Direct Debit and payment will fluctuate according to the interest charged on the 15th of the previous month.

Statements

Monthly statements during the revolving credit period, reverting to 6 monthly statements afterwards.

Drawdown

Funds available for draw down can be accessed via the Loan Service Net or Loan Service Line to a nominated bank account, $50.00 minimum draw down and fee free.

MasterCard Access

MasterCard access for purchases and free ATM access to cash (selected ATM's only), all at line of credit rates.

Cheque book Access

A Loan Service Cheque is an easy way to access funds available in the Line of Credit.  It's a great alternative for payment of larger goods and services.  

Pay Anyone

Transfer funds to any other Australian bank account or to your other loans.

Direct Debit

Pay your loan by Direct Debit monthly fortnightly or weekly.

Direct Salary Crediting

Have your income directly paid into your loan account and use your MasterCard, cheque book or draw down facility over the phone or via the internet to access your money or pay bills.

Internal Transfers

Transfer funds to your other loans or to other accounts within the same loan.

Loan Amount if taken as part of a split loan

LVR (Loan to value ratio)

If taken as a stand-alone line of credit product, LVR shall not exceed 90% up to $500K & 85% up to $750K.  The maximum loan size shall be $750K.

Green Home Loans - All Wilson National loans carry the carbon neutral logo and are 100% carbon neutral.