home loans

Interest Only

Only pay the interest component of the loan for a set period.

• You can choose the Interest Only variable rate or lock in the fixed rate for up to 5 years
• Fast loan approval and speedy document preparation, so you can move quickly with your property purchase
• Pre-approval available - have your loan approval ready before negotiation the purchase of your new property
• Additional and lump-sum repayments possible
• Can be used to construct your property
• Protected loan option - cover yourself for unforseen events

More

• Why not protect your property with our great Home & Contents insurance?
• Have you downloaded our Credit Guide?
• Protect against unforeseen events with Consumer Credit insurance

Equity Extra Overdraft

Borrow against the real estate property linked to your savings account. Access equity in your home, up to an agreed amount, for whatever and whenever you choose. Interest is calculated on a daily basis and is only charged on the amount you actually use.

• Access your equity 24 hours a day by any means, up to the agreed amount
• Flexible repayments - no structured payments required, however you must remain under the agreed limit
• Fast loan approval and speedy document preparation

More

• Why not protect your property with our great Home & Contents insurance?
• Have you downloaded our Credit Guide?
• Protect against unforeseen events with Consumer Credit insurance

Free Property Analysis Report

Summerland offers a free Property Analysis Report to prospective borrowers. This provides real value to people looking to purchase property. The report is generated by one of Summerland’s loans consultants in conjunction with you at the loan interview.

This report will detail considerable information about the property being considered and will give you information about the sales history of the property, its specifications, other properties in the area which have sold recently, or are still on the market and how long they have been offered for sale. The report can include houses, units, vacant land or other types of property.

The report also provides rental information for similar properties, trend values over the past years, volume and values of sold properties, ownership statistics and more.

The report is equally valid for prospective owner-occupiers or investors. This Report makes it easier for you to collect the data so you can make a more informed decision when buying a property. With this information, you will be more confident in interpreting what real agents say.

The report is offered FREE to people who book in for a loan interview and is created by us asking them a number of questions about what you are looking for, (eg how many bedrooms would you like? Is it a house or a unit? Etc) If someone says they’d like to buy a house or are thinking about all the dead rent they’re paying, or any other trigger that suggests they may wish to buy a property, you can use the offer of the report to generate interest.

Even if you’re not ready to buy, once booked in for a no cost loan interview, we can discuss how much you may be able to borrow, loan options, help you set up a savings plan if needed, as well as provide you the FREE Property Analysis Report.

Terms and Conditions

• Reports are provided to potential borrowers of Summerland Credit Union at the discretion of Summerland.
• Information in the report is provided subject to the Disclaimer included in the report.
• Summerland does not validate the information; it is provided by an external market research business. Therefore, Summerland does not substantiate the accuracy of the report information.
• Reports are provided to bona-fide borrowers.
• Report information is not advice, and Summerland recommends borrowers validate the data before making decisions based on the report content.
• Summerland may decide to cease providing the report without notice at any time.
• The Report may include a combination of report information based on the Loan Consultant’s interpretation of the borrower’s needs.