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Renovation Home Loan
Draw down funds progressively as your home is being renovated
If you are thinking about renovating your home, then a Renovation Home Loan is what you need. It offers flexible finance options so that you can make renovations or extensions to your home in a way that suits your needs. This means that loan funds are advanced in stages as your builder completes agreed construction milestones.
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Make renovations or extensions to your current home
Access funds on an ongoing basis as you need to make payments
Make scheduled payments for builders
Interest type
- Variable interest rate
Term
- Up to 30 years – generally we allow you up to 6 months to complete the building works
Frequency
- Choose to pay weekly1,fortnightly1 or monthly
Additional payments
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Make additional payments at any time
Automatic repayments
- Set up convenient automatic repayments from your nominated account
Interest-only option
- Choose monthly interest-based repayments
Ability to increase loan amount
- Applying for additional funds is simple1
Redraw facility
- Get access to any extra payments you make with a convenient redraw facility
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100% interest offset to help you save interest on your home loan and own your home sooner (partial interest offset also available)
- Not available
- Maximise the amount you can borrow when a parent or other family member guarantees part of your home loan
- Enjoy the benefits of a fixed and a variable rate. Renovation portion must be at a variable rate.
Learn more about the Renovation Home Loan
- Call a home loan expert on 13 33 30 8am - 9pm (AEST), 7 days a week.
1. Subject to the bank’s consent. A fee may be payable on each approved request.
