Work it around your plans
Gives you the flexibility to make extra repayments, or fully repay the loan, at any time without having to pay early repayment fees.
Variable interest rate
The interest rate adjusts as the market changes, meaning if it falls, your payments could be less, but if it rises, your payments would increase.
A structure to suit you
You could consider splitting your home loan across multiple loans or a combination of loan types. For example having a combination of floating rate and fixed rate home loan or revolving credit mortgage
Benefits:
- If the floating interest rate drops, you’ll get the benefit immediately.
- You can increase your regular repayments without paying a penalty.
- Making extra repayments may reduce your overall interest costs.
Things to know
- You could consider splitting your home loan across multiple loans or a combination of loan types. For example having a combination of floating rate and fixed rate home loan or revolving credit mortgage.
Our home lending specialists are here to assist you in determining the structure and terms that will work best for you.
Find out more about tailoring the structure of your home loan
- The interest rate adjusts as the market changes, meaning if it falls, your mortgage payments could be less, and if it rises, your mortgage payments would increase. Therefore it is important that you have the room in your budget to cope with higher repayments amounts.
Other important information
- If you’ve got a deposit of less than 20%, talk to us. You may be eligible for low equity lending .
- We work closely with mortgage brokers throughout the country. If you are already working with a broker, you can ask them to include The Co‑operative Bank as a potential lender.
- We offer Loan Protection Insurance which is designed to provide peace of mind if the unexpected happens.
Ready to apply?
You can complete your application online. It'll take about 10-20 minutes to apply. If you need to, you can save as you go and come back later.
Apply online*For more information on Loan Protection Insurance click here.
For all home loans, The Co‑operative Bank's lending and insurance criteria, fees, interest rates, terms and conditions apply and are subject to change.
If a home loan is greater than 80% of the property's value, a low equity interest rate premium will apply and the revolving credit home loan will not be available.
Owner Occupied lending is:
- Where there is a minimum 20% equity in the property, and the individual seeking the loan intends to occupy the property; or
- A First Home Loan.
For fixed home loans - If you repay your home loan before the fixed term is finished, you may be charged early repayment fees – see The Co‑operative Bank Early Repayment Formula.
See Interest rates and Fees for full details