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Home Loan Options

SERVICE ONE Alliance Bank home loans can be used for different borrowing scenarios, are feature-packed and offer different borrowing options depending on your circumstances. Depending on the loan product you select, the following options and benefits may be available to you.

 

Scenario based loan options
Deposit assistance If your money for a deposit is tied up, the deposit guarantee is a substitute for the cash deposit on residential property purchases, between signing the contracts and settlement. A deposit guarantee can be issued for all or part of the deposit amount required, up to 10% of the purchase price.
Construction loan If you're thinking of building your dream home, the majority of our home loans are available for construction purposes.
Family assist/guarantor With this option, a member of your immediate family such as your parents can guarantee your loan to help you get into the housing market sooner. Collateral in their home can even be used as additional security for your loan. Independent legal advice should be sought.
Bridging loan If you have found the perfect new home but things are on hold because you are having problems selling your current property, this option can be used to bridge the gap until your current property is sold.
Kit home or other pre-manufactured construction loan SERVICE ONE Alliance Bank home loans can be used for the financing of kit homes or other pre-manufactured constructions. Funding for these dwellings differs as finance is provided through a staged approach, from the land purchase to material delivery to the completed build.
Supplementary loan Using the equity in your home as collateral, you can secure additional funds at a variable rate or fixed rate lump sum for smaller items including house repairs or extensions, consolidating personal debt and more.
Conditional pre-approval Still looking for your dream home? You can secure a conditional pre-approval that is valid for up to three months, allowing you to house hunt or attend auctions with confidence.
Interest only An interest only option may be beneficial if you're investing in property or planning on renovating. With this option, repayments are lower as they only cover the interest component - no principal is being repaid during this period. Interest only repayments will only be accepted for a set term, usually five years, and at the end of this term the loan will switch to principal and interest repayments and these repayments will be higher.
Funds for environmentally-friendly solutions Have a SERVICE ONE Alliance Bank home loan and want to purchase some environmentally-friendly solutions for your home? You have the option of either topping-up your existing loan or a new loan can be established for you, at a term that suits you.
First home buyer assistance If you’re eligible, we can provide assistance with the paperwork to access the Government’s First Home Owner Grant.

Home loan features
Loan redraw If you make extra repayments against your loan, you can redraw these funds if you need them. Funds can be accessed either online through eLink Internet banking or in-Branch.
Loan offset facility This option is ideal if you tend to carry a considerable balance in your everyday savings account. Your savings can be essentially used to offset your loan balance, reducing your interest costs. For eligible (variable) rate loans, a 100% offset facility is available and you can link up to two everyday savings accounts to your loan. For instance, if your loan balance is $300,000 and you have $10,000 in linked savings accounts, loan interest is only charged on $290,000.
Split loan You can choose to split your loan so a part of your loan is on a fixed rate and part is on a variable rate. If you're unsure about interest rate movements or you want added flexibility for repayments, this may be a good option to consider.
Portability* If you are moving to a new home and want to take your SERVICE ONE Alliance Bank home loan with you, the security details on your loan can be changed to your new property and you can continue enjoying the great value SERVICE ONE Alliance Bank loan solutions you've become accustomed to.
Rate lock This option allows you to lock in the fixed interest rate that is quoted at the time of loan approval for up to 90 days. If interest rates change prior to loan funding, you are guaranteed the locked in rate (provided the time between approval and funding is within the 90 days).
Discounts on everyday banking Because your SERVICE ONE Alliance Bank loan balances are taken into account to determine your Average Relationship Balance, those who borrow save more on everyday banking. For more information, refer to Fees & Charges.

Home Loan Calculators

 

How much can I borrow?

Use your income and expenses to estimate how much you may be able to borrow for your home loan.

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Home loan repayments calculator

Work out how much your home loan repayments might be.

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Home loan comparison calculator

Compare two home loan options to see what might be best for you and your needs.

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  Related information:

 

*May vary depending on property zoning, valuation and loan purpose. Lender’s Mortgage Insurance costs are capitalised on top of loan amount.

Terms and conditions apply and fees and charges are payable. Lending criteria apply. Full details available on application. Some loan services require a separate application and are subject to assessment.

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