bcu offers a local alternative to the big banks from Port Macquarie to the Sunshine Coast, with internet and phone banking services, so not matter where you are, you can keep one eye on your home loan.
bcu is a division of Police & Nurses Limited following the successful merger between Bananacoast Community Credit Union Ltd and Police & Nurses Limited.
Rates and fees verified as correct at 05 July, 2020. Other information correct at the time of writing.
With the fixed rate home loan option from bcu, you can borrow up to $2,500,000, with as little as 5% of the property’s value for a deposit. You’ll pay an upfront application fee, and you’ll also have the option of making extra repayments, although on the fixed rate option, a fee does apply. To make budgeting easier, you can choose to make monthly, fortnightly or weekly repayments to match when you get paid. Plus, if you think you’d like the security of fixed rates but with a little added wiggle room, why not split your home loan between a fixed and variable rate?
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.54% p.a. | 3.93% p.a. | $0.00 | $0 | ||
| 2.44% p.a. | 3.83% p.a. | $0.00 | $0 | ||
| 3.03% p.a. | 3.91% p.a. | $0.00 | $0 | ||
| 2.16% p.a. | 3.64% p.a. | $0.00 | $0 |
If you’re looking for flexibility in your home loan, check out one of the great variable rate home loan offers from bcu. Depending on which option you choose, you can borrow up to $2,500,000 with an LVR of up to 95%, but keep in mind that some options have a maximum LVR of just 80%. Like the fixed rate alternative, you’ll pay an upfront application fee for any variable rate home loan from bcu. As far as features go, you’ll have the option to make fee free extra repayments, and there’s a redraw facility if you need any of those funds back. If you opt for the Standard variable home loan, you’ll also get the use of a 100% offset account to keep interest costs low.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.70% p.a. | 3.71% p.a. | $0.00 | $0 | ||
| 3.60% p.a. | 3.61% p.a. | $0.00 | $0 | ||
| 3.50% p.a. | 3.51% p.a. | $0.00 | $0 | ||
| 3.44% p.a. | 3.45% p.a. | $0.00 | $0 | ||
| 3.19% p.a. | 3.20% p.a. | $0.00 | $0 | ||
| 3.09% p.a. | 3.10% p.a. | $0.00 | $0 | ||
| 3.04% p.a. | 3.05% p.a. | $0.00 | $0 | ||
| 2.69% p.a. | 2.70% p.a. | $0.00 | $0 | ||
| 4.40% p.a. | 4.41% p.a. | $0.00 | $0 | ||
| 4.30% p.a. | 4.31% p.a. | $0.00 | $0 | ||
| 4.20% p.a. | 4.21% p.a. | $0.00 | $0 | ||
| 4.14% p.a. | 4.15% p.a. | $0.00 | $0 |
Want to use the equity in your home to fund your next big spending goal? With a line of credit mortgage from bcu you can make it happen. Available for up to 79% of your home’s value, you can secure up to $2,500,000. But remember to budget for the initial application fee, and keep your eye on the cost of lender’s mortgage insurance.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee |
|---|---|---|---|---|
| 4.35% p.a. | n/a | $0.00 | $600 | |
| 4.19% p.a. | n/a | $0.00 | $600 | |
| 3.65% p.a. | n/a | $0.00 | $600 | |
| 3.49% p.a. | n/a | $0.00 | $600 |
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
| Low depositLow deposit | You can snag many of bcu's home loans with as little as a 5% deposit. Just keep in mind that when you have a deposit of less than 20%, you’ll usually also need to fork out for lender’s mortgage insurance. |
| Unlimited extra repaymentsUnlimited extra repayments | bcu home loans often give you the option to make additional repayments and pay your loan off faster. Just remember that while there’s no penalty for doing so on a variable rate loan, you’ll pay a fee for extra repayments made on a fixed rate mortgage, plus, paying the entire loan off before the fixed period ends might incur extra penalties. |
| Flexible repayment scheduleFlexible repayment schedule | You can choose monthly, fortnightly or weekly repayments, to fit in with your budget. |
| No ongoing service feesNo ongoing service fees | A bcu home loan is easy on the wallet, with no ongoing service fee on any mortgage option. But keep in mind there is an upfront application fee for all bcu home loans. |
Now you know all the details, learn from what others have to say about bcu home loans by browsing our customer review section.
Easy to deal with and fast approval.
Easy to deal with and fast approval.
Suzy, New South Wales, reviewed 7 months ago
The customer service as well as the interest rates make this credit union one of the 'must consider' options when refinancing or getting a new home loan. What they lack in features, they make up for with savings and customer service.
The customer service as well as the interest rates make this credit union one of the 'must consider' options when refinancing or getting a new home loan. What they lack in features, they make up for with savings and customer service.
Nathan, Victoria, reviewed 7 months ago
Easy process with great rates and service!
Easy process with great rates and service!
Tracy, Queensland, reviewed almost 2 years ago
Sherilynne, New South Wales, reviewed about 4 years ago
Rebecca was excellent - made life very easy and manageable for 2 working people
Rebecca was excellent - made life very easy and manageable for 2 working people
Michael, New South Wales, reviewed about 4 years ago
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.
Ready to sign up and make that first home dream a reality? To do so, you’ll need to be over 18, a permanent Australian resident or citizen and be in a good financial situation - which means no outstanding defaults, judgements or bankruptcy.
You’ll also need to provide information about: