Bank of Sydney

Bank of Sydney

Founded: 2001

Lender Type: Non-Bank

Owned by: Bank of Beirut

Bank of Sydney prides itself on customer service, community engagement efforts, and living up to high standards of social responsibility. With a vision of becoming Australia’s only true relationship bank, this institution strives to offer a healthy selection of home loan products, delivered with the guidance and support of a committed staff. While still a relatively small non-bank lender, Bank of Sydney is establishing itself as a lender that is willing to work with mortgage brokers and customers to facilitate reasonable mortgage solutions.

Key Benefits

Self-employed loans offered
Interest rate discounts available to qualified borrowers
Fees waived or reduced on some loans

Drawbacks

Standard variable rate is relatively high
Branches only available in Sydney, Melbourne, and Adelaide
Some loans come with expensive fees

Home Loan Products

Compare Home Loans

Home Loans Description

Expect More PAYG Home Loan Package

Designed for PAYG employees or contractors, this loan will let you get into the home of your dreams with a flexible home loan package. You’ll be able to use a 100% offset account and redraw with the variable loan to help you reduce your overall interest, as well as a fee-free credit card. Both variable and fixed rate options are available. Keep in mind, you’ll only be eligible for the discounted variable rate if you borrow less than 80% of the property’s purchase price.

Expect More Non-PAYG Home Loan Package

Looking for a competitive and complete home loan package for non-PAYG workers? Bank of Sydney offers a comprehensive package with a variety of options including redraw and an offset account option with a variable rate loan. To give you more flexibility, you can make annual repayments up to $10,000. While the interest rates on this loan product are slightly higher than those of other lenders, Bank of Sydney covers some of your legal and valuation fees and waives the application fee.

Standard Variable Home Loan

For a straightforward home loan, Bank of Sydney’s Standard Variable gives you flexibility and simplicity. You can opt for principal and interest or interest only payments. The interest rate is not as competitive as what you may find from other lenders but the customer service and quick settlement times may be advantages that make this loan product worth exploring.

Home Equity Maximiser Owner Occupier

If you have built up equity, you can use it to your advantage with the Home Equity Maximiser. Get all the flexibility you need – you can take a repayment break as long as you cover the interest on the money used and are up-to-date on your loan. Make additional repayments when you want to build up more equity or pay down your loan faster. Use the debit card, cheque, and online banking features, as well as a salary credit facility to help you streamline your financial life. Interest discounts are available. The line of credit in this loan is not available for investment purposes.

Home Equity Maximiser Investment

Use the equity in your home or residential investment property when you are ready to invest in another property. Enjoy interest only minimum monthly repayments when you are caught up or make extra repayments when you want to pay down your loan faster. This variable rate loan comes with a debit card, chequebook, online banking, and a salary credit facility to help you simplify your finances and get more out of your loan.

Residential Investment Standard Variable Rate

For residential property investment with a competitive rate and great customer service, Bank of Sydney has a straightforward standard variable rate loan product designed specifically for investors. Take advantage of redraw when you need it and choose between principal and interest or interest only repayments.

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