Citibank Mortgage Power

The Citibank Mortgage Power is the company’s exclusive revolving line of credit. It comes with a predetermined credit limit that uses the borrower’s property as security. This provides you with a resource to draw from when you need money to pay unexpected bills, renovations, or other projects.

This line of credit draws from the equity that has already been built up in the property from what you’ve already paid on your mortgage. You can access these funds at any time but with variable home loan interest rates attached. This makes the Mortgage Power product a great option for investors who need working capital fast.

The Citibank Mortgage Power can be combined with a Standard Variable, a Standard Fixed, or both.

KEY BENEFITS

Read more about some of the key benefits connected with this loan product.

Flexible Redraw

You have the option of redrawing from your equity up to the pre-approved credit limit at any time.

Interest Only Payment

This allows you a period of up to seven years to pay only the interest owed on your loan before paying the principal and interest together.

Loan Portability

You can take your mortgage and substitute one loan for another, while only paying for the one loan.

Additional Payment

You can make additional lump sum payments at any time without the threat of penalties or early repayment fees.

Split Loan Option

This feature allows you to combine the different features and benefits of two or more applicable loans.