"Line of Credit" - here's how it works ...
All income is directed into your account reducing your balance.
In conjunction with the home loan all expense are made on
your 55-day interest free Visa card. This enables you to maximise
your income to reduce your home loan. At the end of the interest
free period the Visa card is automatically paid from your
home loan.
This account is an "all in one account" with EFTPOS,
ATM, cheque, and secure electronic Internet banking access.
Mortgage eliminator is a home loan facility, which is a constant
revolving line of credit account. Your entire salary goes
in, thus reducing the balance and the amount you are paying
in interest. Your daily expenses are paid for by your 55-day
interest-free Visa card.
Each month one payment is automatically taken from your account
to cover all of the expenses incurred on the Visa, thus helping
to pay off your mortgage sooner. The greater the difference
between your expenses and your cash flow - the greater the
effect of paying out your home sooner.
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From First Home Owners, Owner Occupied,
Investors & Overseas Investor |
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Up to 95% of value of property (in all major centers
Australia wide) |
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25 year term |
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Up to 55 day interest free visa card |
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Automatic Sweep facility on visa card |
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Direct Salary Crediting |
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Telephone & Internet banking |
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BPAY facility |
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Cash advances and withdrawals can be made at over 2700
post offices, over 6000 ATMs & 8500 EFTPOS outlets
Australia wide |
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Loan is portable from one security property to another
|
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Sub accounts available or it can be split with our other
home loans |
