Heritage Bank offers no application fees on home loans

Heritage Bank has announced it will waive application fees for new standard variable, discount variable and fixed rate home loans until 30 November 2015.

CEO Mr John Minz said Heritage continued to offer highly competitive rates for its customers, delivering on its People first philosophy and its commitment to providing great value.

Mr Minz said the no application fee offer could save borrowers $600.

“As a customer-owned bank, we pride ourselves on offering extremely sharp pricing,” he said.

“We currently have a discount variable home loan rate of just 4.14% for new loans of more than $150,000, which is one of the best available rates in the market.

“Our no application fee offer means we can deliver even greater value to customers.

“That’s on top of our fantastic personalised service, which makes us an excellent overall package for people to consider.”

The no application fee offer is for new home loans applied for by 30 November and disbursed by 29 February 2016. The offer is not valid for further advances, living equity or line of credit loans; existing customers switching loans or refinancing internally; or for borrowing for alterations and additions.


* 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.