Other important things to know about redraw
- Please note that withdrawing from your available redraw, including transfers to an offset account, may cause your repayment amounts to increase.
- If you chose to make Interest Only payments, amortisation of redraw will not occur for the length of the Interest Only term.
- If you’re switching your loan, you should consider if the new loan type has a redraw facility. For instance, if you switch from a Standard Variable Rate to a Fixed Rate home loan you will no longer have access to a redraw facility during the fixed-rate period. However, if you make additional repayments during a fixed rate period, or had available redraw when you entered your fixed rate period, the amount available for redraw at the end of the fixed rate period may be lower.
- Sometimes your financial circumstances can change in ways you haven’t anticipated or prepared for. If you’re finding it hard to meet home loan repayments, we can help.
Things you should know
Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice.