Heritage Bank Professional Package Living Equity Line of Credit

The Heritage Professional Package Living Equity Line of Credit combines all of the features available with the equity line of credit. The major one is available access to your equity funds. You can take any income or wages you receive and have them deposited in the mortgage account and then have ready access 24 hours a day.

The Professional Package combines the line of credit with other Heritage financial products including the applicable Visa credit card, transaction account benefits such as free SMS enquiries, free ATM withdrawals, plus you can save on the fees typically associated with the Living Equity line of credit. Plus, you can get discounts on the price of insurance premiums with most providers.

KEY BENEFITS

The following benefits are available with the Heritage Professional Package Living Equity Line of Credit.

Additional Payments

You have the option of making additional payments on top of what you already pay on the mortgage. You can also make unlimited lump sum payments. The real advantage here is the ability to reduce the balance on the loan more quickly. There are no penalties for early repayment.

Flexible Repayment

This means that you can repay your loan on a weekly, fortnightly, or monthly basis.

One Annual Fee

Since the loan and other products are bundled in the Professional Package, you have one affordable annual payment.

Redraw Facility

This type of loan allows for unlimited redraw or re-borrowing of the equity provided you have paid over the amount due.