The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 95%
The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 95%
The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 95%
The details shown below are for an investor taking out a interest only loan of at least $150,000 with an LVR below 95%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 95% | $150,000 | |
| | Owner Occupier | Principal & Interest | < 95% | $150,000 | |
| | Investor | Principal & Interest | < 95% | $150,000 | |
| | Owner Occupier | Interest Only | < 95% | $150,000 | |
| | Investor | Principal & Interest | < 95% | $150,000 | |
| | Investor | Interest Only | < 95% | $150,000 |
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $150,000
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $150,000
Investor (Principal & Interest)
LVR < 95%
Loan: $150,000
Owner Occupier (Interest Only)
LVR < 95%
Loan: $150,000
Investor (Principal & Interest)
LVR < 95%
Loan: $150,000
Investor (Interest Only)
LVR < 95%
Loan: $150,000
On the hunt for a killer-rate home loan to seal the deal on the house of your dreams? Well, with a choice between 1-3 year fixed terms and loads of flexible features like extra loan repayments and a free redraw facility, the Works Fixed Home Loan from Illawarra Credit Union could be just the loan you’re looking for! And you know it's top draw, because it just took out a 2020 Mozo Experts Choice Award for Best Fixed Rate Home Loan.
The Illawarra Credit Union The Works Fixed Home Loan hits the ground running with competitive fixed interest rates for owner-occupiers on loan amounts of $150,000 and up, with a 95% maximum LVR. Just bear in mind that if you're borrowing with over 80% LVR, you will have to budget for Lenders Mortgage Insurance.
The interest rate you get will depend on which loan term you choose. Here are the interest rates on offer according to the different rate tiers:
• Fixed 1-year interest rate: 2.34% p.a. (3.00% p.a. comparison rate*)
• Fixed 2-year interest rate: 2.29% p.a. (2.98% p.a. comparison rate*)
• Fixed 3-year interest rate: 2.35% p.a. (2.98% p.a. comparison rate*)
Plus, Illawarra Credit Union are also offering a special 2-year-fixed rate right now, as low as 1.99% p.a.(2.89% comparison rate*). This special offer is available to new, owner-occupier fixed home loans, of $150,000 or more.
In addition to hot rates, the Works Fixed Home Loan offers weekly, fortnightly and monthly repayment options, so you’ll be able to tailor your regular loan repayments around your budget and lifestyle.
On top of all this, the loan comes with tonnes of flexible features, like extra loan repayments and a fee-free redraw facility, which could be super useful should you need access to some extra funds. Just keep in mind that it’s a minimum $500 redraw.
Another fab feature that comes with the Illawarra Credit Union The Works Fixed Home Loan is the optional split account which lets you split between variable and fixed rates. Talk about flexibility!
The Illawarra Credit Union The Works Fixed Home Loan is filled to the rim with flexible features and comes with a killer rate, making it a great option for most Aussie borrowers with at least a 20% deposit saved up.
If you’re considering going with the Illawarra Credit Union The Works Fixed Home Loan, just be aware that you’ll need to budget for the $600 application fee, $250 annual service fee (waived for the first year) and $350 discharge fee.
While you can borrow with up to 95% LVR, you will have to pay Lenders Mortgage Insurance for loans over 80% LVR.
n/a
n/a
n/a
n/a
n/a
1.99% (2.89%*)
n/a
1.99% (2.85%*)
n/a
n/a
n/a
2.50% p.a.
$600.00
$440.00
$242.00
$0.00
n/a
$395.00 yearly
$350.00
$150,000
none
none
95.00%
Weekly, Fortnightly, Monthly
yes - free
no
yes - free
$500.00
yes
no
Valuation and legal fees charged at cost. Lenders Mortgage Insurance required for loans above 80% LVR.
20% off Home and Contents Insurance for thefirst year with QBE.
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a
n/a
n/a
n/a
2.34% (3.00%*)
2.29% (2.98%*)
2.35% (2.98%*)
n/a
2.74% (3.11%*)
n/a
n/a
2.50% p.a.
$600.00
$440.00
$242.00
$0.00
n/a
$395.00 yearly
$350.00
$150,000
none
none
95.00%
Monthly
yes - free
no
yes - free
$500.00
yes
no
Valuation and legal fees charged at cost. Lenders Mortgage Insurance required for loans above 80% LVR.
20% off Home and Contents Insurance for thefirst year with QBE.
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a
n/a
n/a
n/a
n/a
2.99% (3.74%*)
n/a
n/a
n/a
n/a
n/a
3.30% p.a.
$600.00
$440.00
$242.00
$0.00
n/a
$395.00 yearly
$350.00
$150,000
none
none
95.00%
Weekly, Fortnightly, Monthly
yes - free
no
yes - free
$500.00
yes
no
Valuation and legal fees charged at cost. Lenders Mortgage Insurance required for loans above 80% LVR.
20% off Home and Contents Insurance for thefirst year with QBE.
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a
n/a
n/a
n/a
2.79% (3.04%*)
n/a
n/a
n/a
n/a
n/a
n/a
2.50% p.a.
$600.00
$440.00
$242.00
$0.00
n/a
$395.00 yearly
$350.00
$150,000
none
none
95.00%
Monthly
yes - free
no
yes - free
$500.00
yes
no
Valuation and legal fees charged at cost. Lenders Mortgage Insurance required for loans above 80% LVR.
20% off Home and Contents Insurance for thefirst year with QBE.
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a
n/a
n/a
n/a
2.85% (3.76%*)
2.59% (3.67%*)
2.55% (3.61%*)
3.09% (3.73%*)
3.09% (3.72%*)
n/a
n/a
3.30% p.a.
$600.00
$440.00
$242.00
$0.00
n/a
$395.00 yearly
$350.00
$150,000
none
none
95.00%
Monthly
yes - free
no
yes - free
$500.00
yes
no
Valuation and legal fees charged at cost. Lenders Mortgage Insurance required for loans above 80% LVR.
20% off Home and Contents Insurance for thefirst year with QBE.
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a
n/a
n/a
n/a
2.85% (3.76%*)
2.64% (3.68%*)
2.65% (3.63%*)
n/a
3.24% (3.77%*)
n/a
n/a
3.30% p.a.
$600.00
$440.00
$242.00
$0.00
n/a
$395.00 yearly
$350.00
$150,000
none
none
95.00%
Monthly
yes - free
no
yes - free
$500.00
yes
no
Valuation and legal fees charged at cost. Lenders Mortgage Insurance required for loans above 80% LVR.
20% off Home and Contents Insurance for thefirst year with QBE.
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
Illawarra Credit Union is a community credit union, that uses its profits to improve products and services offered to its customers, in the Illawarra region. Illawarra offers its customers with competitive products and services in home and personal loans, credit cards, car loans, savings accounts, term deposits and debit cards. Illawarra provides financial solutions complimented with customer service.
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fixed 3 years
3.01% p.a.
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Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
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Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
People's Choice Credit Union
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1.99% p.a.
fixed 3 years
3.64% p.a.
Bank of Queensland
Fixed Rate
2.09% p.a.
fixed 3 years
3.01% p.a.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
