Finty

Bank of Sydney Home Equity Maximiser Investment

Variable rate

Finance a renovation or your next property by turning the equity in your investment home into a flexible line of credit.

Written byDavid Boyd
Interest rate a year, from
12.27%
Comparison rate
Not published
Upfront fees
$600
Annual fee
Not published
Monthly fee
$10

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 12.27% (variable, investment, interest only), including the monthly fee. The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$6,145
Total repayments
$2,812,200
Interest and monthly fees
$2,212,200

Rates

Every rate Bank of Sydney publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableInvestmentInterest onlyAny12.27%–

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$600
Annual fee
Not published
Monthly fee
$10

Features

Offset account
No
Redraw
No
Highest LVR
70%
Loan amount
Not published

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Upfront fees

$600

Typical upfront fees are $600.

Smallest deposit

30%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.

Cons

  • No offset account. Your savings can't reduce the interest unless you pay them into the loan.