Flexibility and low fixed rates – more reasons to take out
a Home Loan with us.

Whether you’re buying your first home, upgrading or considering re-financing, our lending team can help you to make the process easy.

There are a number of great benefits for taking out your Home Loan with Southern Cross Building Society, such as:

  • The ability to make lump sum repayments on your fixed rate home loan without penalties.*
  • One of the lowest fixed rates in the market.
  • Flexibility similar to that of a floating rate home loan.

For more details on what you can expect from a Southern Cross Home Loan and the information we’ll need from you, see the table below:

Borrowing Amount

The Society will generally lend up to 80% of the registered valuation of the property or purchase price, whichever is the lesser.  The amount you borrow depends on your ability to repay.  As a guideline, your repayments should not exceed 40% of your combined gross household income.  The minimum loan amount is $50,000.

 Term

You can select the term that suits you, allowing you to structure your Home Loan over the number of years you like up to 30 years.

Repayment Frequency

You can choose to make repayments on a monthly, or fortnightly basis, allowing your Home Loan repayments to fit in with your income periods.

Interest Rates

Fixed Rate:
You can request a fixed rate for 6 months or 1, 2 or 3 years; the interest rate will not change during that period.
Variable (or Floating) Rate:
The interest rate will change if the Society's variable rate changes. Our interest rates are set according to general market conditions. We aim to keep our interest rates competitive.

Application Fee

Negotiable

Legal Fees

If the total amount of the loan is $100,000 and above the Society will meet all costs associated with the preparation of the Society's security documentation by the Society's solicitors.  The applicant is expected to cover the fees associated with their lawyer explaining and arranging the execution of the Society's security documentation.

Security

First charge registered mortgage in all cases. 

Insurance

Applicants are to provide their own cover and confirmation is to be provided to the Society.

Phone & Internet Banking

Once your loan is drawn down you can track the balance with Telephone and/or Internet Banking.

Pre-approved Loan

You can apply to the Society for a pre-approved loan before you choose a property.

Who can apply?

 You do not have to be a Society member to apply for a Home Loan. If you have a deposit towards the purchase of your property and can show that you can meet the repayments, we want to see you!

Apply online today.

If you have more questions, just give one of our friendly staff a call on 0800 657 935.

* Lump sum repayments attract no penalties, unless the mortgage is discharged or reduced to a balance of less than $20,000 in which case a fee will apply and interest adjustment calculations will apply in accordance with the Credit Contracts and Consumer Finance Act 2003. The minimum lump sum repayment amount is $1000.00.