Code Of Practice

Heritage has been putting People first for more than 140 years. As a commitment to our customers, Heritage has adopted the Customer Owned Banking Code of Practice.

The Customer Owned Banking Code of Practice has been introduced by the Customer Owned Banking Association, the leading body for Australian mutual financial institutions including mutual banks, building societies, credit unions and friendly societies. The Code outlines 10 key promises to ensure Heritage continues to be fair and ethical when dealing with you.

How does it help our members?

The Code of Practice helps you easily understand Heritage's products and services. It will:

  • Outline how you can expect Heritage to behave towards you as a customer
  • Ensure all written materials are in plain English and that there are clear distinctions made between terms and conditions and promotional offers
  • Ensure all payment fees and exception fees are fair to you
  • Ensure you always have access to the right advice

What does Heritage promise?

Heritage is committed to the Customer Owned Banking Code of Practice and its 10 key promises. These promises are:

  1. We will be fair and ethical in our dealings with you
  2. We will focus on our customers
  3. We will give you clear information about products and services
  4. We will be responsible lenders
  5. We will deliver high customer service and standards
  6. We will deal fairly with any complaints
  7. We will recognise customers' rights as owners
  8. We will comply with our legal and industry obligations
  9. We will recognise our impact on the wider community
  10. We will support and promote the Customer Owned Banking Code of Practice

View the full version of the Customer Owned Banking Code of Practice (639 kb)

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

This advice has been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs.

Generate a personalised Key Fact Sheet based on your loan amount, term and repayments. This tool is provided to help you compare home loans from Heritage with other financial institutions.