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 | |
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Owner Occupier | Interest Only | < 95% | $150,000 | |
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Investor | Principal & Interest | < 95% | $150,000 | |
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Investor | Interest Only | < 95% | $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!
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: 5.90% p.a. (7.09% p.a. comparison rate*)
• Fixed 2-year interest rate: 5.79% p.a. (6.99% p.a. comparison rate*)
• Fixed 3-year interest rate: 5.79% p.a. (6.91% p.a. comparison rate*)
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 brim 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 $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.
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n/a |
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n/a |
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n/a |
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n/a |
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5.90% (7.09%*) |
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5.79% (6.99%*) |
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5.79% (6.91%*) |
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n/a |
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n/a |
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n/a |
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n/a |
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6.75% p.a. |
|
$0.00 |
|
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$440.00 |
|
|
$250.00 |
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|
$0.00 |
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n/a |
|
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$395.00 yearly |
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|
$350.00 |
|
$150,000 |
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none |
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none |
|
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95.00% |
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Monthly |
|
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yes - free |
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no |
|
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yes - free |
|
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$500.00 |
|
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yes |
|
|
no |
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|
Valuation and legal fees are charged at cost. Lenders Mortgage Insurance is required for loans above 80% LVR. Staff assisted redraw fee is $50. |
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|
none |
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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 |
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n/a |
|
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n/a |
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n/a |
|
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6.35% (7.14%*) |
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|
n/a |
|
|
n/a |
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|
n/a |
|
|
n/a |
|
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n/a |
|
|
n/a |
|
|
6.75% p.a. |
|
$0.00 |
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$440.00 |
|
|
$250.00 |
|
|
$0.00 |
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|
n/a |
|
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$395.00 yearly |
|
|
$350.00 |
|
$150,000 |
|
|
none |
|
|
none |
|
|
95.00% |
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Monthly |
|
|
yes - free |
|
|
no |
|
|
yes - free |
|
|
$500.00 |
|
|
yes |
|
|
no |
|
|
Valuation and legal fees are charged at cost. Lenders Mortgage Insurance is required for loans above 80% LVR. Staff assisted redraw fee is $50. |
|
|
none |
|
|
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 |
|
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n/a |
|
|
n/a |
|
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6.35% (7.84%*) |
|
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6.09% (7.67%*) |
|
|
6.19% (7.57%*) |
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n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
7.55% p.a. |
|
$0.00 |
|
|
$440.00 |
|
|
$250.00 |
|
|
$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 are charged at cost. Lenders Mortgage Insurance is required for loans above 80% LVR. Staff assisted redraw fee is $50. |
|
|
none |
|
|
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 |
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|
n/a |
|
|
n/a |
|
|
n/a |
|
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6.80% (7.89%*) |
|
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6.54% (7.77%*) |
|
|
6.64% (7.70%*) |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
7.55% p.a. |
|
$0.00 |
|
|
$440.00 |
|
|
$250.00 |
|
|
$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 are charged at cost. Lenders Mortgage Insurance is required for loans above 80% LVR. Staff assisted redraw fee is $50. |
|
|
none |
|
|
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.
Home Value Loan
6.09% p.a. variable
6.09% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Elevate
6.09% p.a.
6.20% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% 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.
