Heritage Bank Living Equity Line of Credit

The Heritage Living Equity Line of Credit allows you to access funds from your mortgage account up to an approved limit any time you wish. In fact, these loans allow you to deposit your salary or other wages into the loan account and access the balance. It can work just like a credit card giving you twenty four hour access. These funds can be used to make investments, take a holiday, purchase a new automobile, or pay for home renovations.

There are other features that come with the Living Equity Line of Credit. You can make extra payments without paying penalties; get access to equity through cheque, ATM, or internet banking while enjoying low fees and affordable interest rates, and more.

KEY BENEFITS

The following benefits are available with the Heritage Living Equity Line of Credit:

Extra Payments

This feature allows you to make additional repayments on your mortgage so it is possible to reduce the balance faster. You can also make an unlimited number of lump payments without worrying about early repayment fees.

Split Loan Facility

This allows you to divide your loan payments between two or more types of loans so it is possible to use the features or benefits of each type at different times.

Flexible Payment Terms

You can choose how frequent you may make your mortgage payments. You have the option of weekly, fortnightly, and monthly pay periods.

Redraw Facility

This loan, due to being a line of credit, does offer unlimited redraw opportunities.