Auswide Bank Mortgages

Auswide Bank, a mutual bank focused on customer service, offers a range of mortgage options to help you achieve your homeownership goals. Here’s a breakdown of Auswide Bank mortgages and how they can empower you on your property journey.

Tailored Loan Solutions:

Auswide Bank doesn’t offer a one-size-fits-all approach. They provide two primary mortgage products:

  • Basic Home Loan: This award-winning option is ideal for borrowers seeking a fuss-free loan with a competitive variable interest rate. It boasts features like:
    • No ongoing fees, allowing you to save on costs.
    • Flexibility to make additional repayments to reduce your loan term and interest payable.
    • Redraw facility, providing access to extra funds from your loan balance for unforeseen needs or planned expenses.
  • Home Loan with Offset: This option caters to borrowers seeking to save on interest. It offers the benefits of the Basic Home Loan with the added advantage of:
    • An optional 100% offset account linked to your mortgage. Funds in this account reduce your loan balance for interest calculation purposes, effectively lowering your interest payments.

Understanding Key Features:

  • Interest Rates: Auswide Bank offers competitive variable interest rates on their mortgages. Keep in mind that variable rates can fluctuate with market conditions.
  • Loan-to-Value Ratio (LVR): Generally, the lower your LVR (ratio of your loan amount to the property value), the better the interest rate you’ll qualify for at Auswide Bank.
  • Fees: Be aware of any upfront and ongoing fees associated with your chosen Auswide Bank mortgage product.

The Auswide Bank Advantage:

  • Customer Focus: Auswide Bank prioritizes customer service, aiming to provide a smooth and personalized experience throughout your home loan journey.
  • Pre-approval: Obtain pre-approval to understand your borrowing capacity before house hunting. This strengthens your offer when making an offer on a property.
  • Online Application: Apply conveniently online or visit a branch to discuss your options with a mortgage specialist.

Additional Considerations:

  • Comparison Rate: Don’t just focus on the advertised interest rate. Look at the comparison rate, which includes fees and charges, to get a clearer picture of the loan’s true cost.
  • Eligibility Criteria: Ensure you meet Auswide Bank’s eligibility requirements, including income verification and minimum deposit requirements.
  • Seeking Help: Auswide Bank offers online resources and mortgage calculators to help you estimate repayments and choose the right loan option. Additionally, consider consulting a qualified financial advisor for personalized guidance.

By understanding Auswide Bank’s mortgage offerings and the key factors involved, you can make informed decisions. Remember, Auswide Bank prioritizes a customer-centric approach, making them a strong contender for your home loan journey, especially if you value personalized service and competitive rates.