First home buyers can look to Heritage Bank for great value

Queensland’s first home buyers can find outstanding value with Heritage Bank according to Australia’s premier financial data provider CANSTAR.

For the second year in a row, Heritage has come out on top to win CANSTAR’s Queensland First Home Buyer Award. The Award compares loans and services from lenders across the nation to find out which lenders offer the best value specifically for first home buyers.

Heritage’s competitive pricing including 4.99% with no ongoing fees on their discount variable home loan and its 61 branches, 39 mini branches and all-round customer-convenience helped give them the nod over their state-wide peers.

CEO Mr John Minz said he was delighted that Heritage was recognised for its consistency in accommodating the specific needs of first home buyers.

"Buying a home can be a complex, confusing and time-consuming process so we’ve tried to make the lending and process as easy and as transparent as possible,” he said.

"As a customer-owned bank, we put people ahead of profits, and this award is one way of demonstrating that we are delivering on our promise of maximising value for our customers.”

Mr Minz said cash rate expectations revealed by the Reserve Bank recently meant there was an opportunity for first home buyers to break into the market.

“The latest Reserve Bank survey shows that interest rates will probably rise within the next year, so it’s good time to take a look at the market,” Mr Minz said.

“If you’re in a position to buy, it's worth comparing home loans and consider buying your first home this year to take advantage of lower interest rates.

“However, it’s important to speak with a financial advisor before making any major decisions to ensure you are choosing the right product for your needs.”

* 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.