Line of Credit Loans are interest only variable rate loans that have full flexibility attached to them.

Most Line of Credit loans offer interest capitalisation features, provided that the borrower has sufficient equity in the loan account. No minimum payment is required.

Line of Credit rates are generally higher than standard variable rate term loans. A Line of Credit provides a borrower with access to the equity in their home or investment properties whenever they wish for any worthwhile purpose.

It is similar to an overdraft facility in that funds can be withdrawn up to the original loan approved amount at any time. The interest rate on a Line of Credit facility is usually a variable rate that fluctuates with the market.

A borrower can generally access their Line of Credit via a Cheque Book, Credit Card, ATM, Phone and Internet.

A Line of Credit provides a borrower with easy access to funds ensuring peace of mind in times of need.

If you need more information on these types of home loan products and how they suit your individual home loan needs, enquire online or call 1300 666 500 to speak with an experienced Workforce Finance consultant.