Formerly known as Wide Bay Australia, Auswide Bank recently merged with the Queensland Professional Credit Union (Your Credit Union) and today focusses on offering a community bank feel and personalised services. Home buyers and property investors turn to Auswide for reliable customer service and a common sense approach to assessing a borrower’s eligibility – a refreshing change from the more black and white expectations of Australia’s Big Four. However, Auswide does still have stringent lending policies for some income types.
High level of customer service
Great options for first time home buyers
More dynamic flexibility features than other lenders
Not ideal for low doc loan options
No branches outside of Queensland
Not all loans have competitive rates
With the ability to easily switch between a variable and fixed interest rate without having to refinance, Auswide’s Home Loan Plus is a great option if a high level of flexibility would help you stay in control of your finances. Pay down your loan faster with penalty-free repayments and the ability to lower your interest with an optional 100% offset account. What makes this product even more stand-out is that these features are available whether you are repaying at a fixed or variable rate.
With your pre-approved borrowing limit, you’re free to borrow against the equity in your home whenever you choose. Auswide’s Line of Credit home loan gives you easy access to funds – even when overseas – with a Visa Debit Card. You can also opt to make larger repayments when you’d like, a huge plus if your income stream fluctuates.
All the features of your Home Loan Plus or Line of Credit loan, as well as an enviable set of benefits and discounts, make the Auswide Freedom Package a practical choice for those who prefer an all-in-one personal finance solution. Combine your everyday banking and credit card account with your mortgage for a set annual fee. Then, enjoy interest rate discounts, waived fees, savings on your insurance and more. This is a high-value product for borrowers who are interested in accessing all the perks offered.
Get a pleasant degree of certainty over your finances with the RBA Rate Tracker. When the Reserve Bank of Australia changes the cash rate, your interest rate will move the same amount. Auswide promises to change your mortgage rate within two business days. This loan also comes with a competitive rate and no monthly fees on your account so more of your repayment dollars can go towards paying down your mortgage.