Security for the loan

Your security for the loan is the market value of the Australian property you offer less any mortgage or encumbrance.

If you don’t want to use all of this amount, you can subtract the amount you wish to exclude. You can choose how much you want to use as security for your loan.

Read about how Age component also impacts how much you can get.

What you can use as security

You can only use real estate in Australia as security for your loan.

It can be the home you live in or an investment property.

It can also be real estate owned by a company or trust. But either you or your partner must be an attributable stakeholder of the company or trust.

You’ll need to get consent for the property you use as security if either:

  • you have a partner
  • the real estate used as security has any co-owners.

You can choose how much of the value the real estate you want to use as security. If you have more than one property, you can use one or more than one property as security.

A licensed valuer will assess the property. This will be at no cost to you.

We’ll register a charge with the Land Titles Office on the title deed of the property you’re using as security. You’ll have to pay any costs associated with registering and removing this charge. The costs are added to your loan balance and will accrue interest. You can repay the costs at any time.

When you incur costs

You’ll be responsible for all costs you incur.

The property you offer as security for the loan will have a charge or caveat placed on the title.

Any costs incurred in registering and removing this charge are payable by you. These costs will be added to your loan balance and you can repay them at any time.

We’ll send you a letter once the loan has commenced. This letter will tell you the costs you have been charged.

Page last updated: 2 July 2019