Home Loans Designed For Convenience
Newcastle Herald
Wednesday March 18, 1998
CHOICE and convenience are two major advantages of an NRMA home loan.
And the competitive products and services available through the NRMA Building Society make this type of borrowing an even better experience.
With its variable Home Value loan, the NRMA Building Society offers low interest home and investment loans which can be paid off quickly, with a minimum of fuss.
With terms ranging from one to 25 years, Home Value enables borrowers to make repayments over periods that suit their lifestyle and changing needs.
Borrowers can finalise their loans more quickly by increasing the amounts they repay, by making weekly or fortnightly payments or by making lump sum repayments.
Or they can simply let a loan run its course by making the minimum monthly repayments.
NRMA's loans are suited to owner-occupiers, investors, new home buyers or those looking to refinance existing loans.
In most cases people can borrow up to 75% of the value of their homes with no mortgage lenders insurance, and up to 95% for owner-occupied, or up to 90% for investment purposes with mortgage lenders insurance.
Additional repayments made to home loans can be redrawn in amounts of $1000 or more at any time.
Another home loan product on offer through the NRMA Building Society is Home First, which received the `Best New Product' award from Australian Banking and Finance in 1996.
NRMA Home First allows customers to have salaries paid directly into their loan accounts and to withdraw any funds above the regular loan repayments.
This actively reduces the outstanding loan balance and therefore, in most instances, the interest charged.
A monthly statement shows the money available, and the loan balance.
© 1998 Newcastle Herald