LOAN FEATURES AND BENEFITS

Feature	Description	Benefit
Offset	Savings are linked to your loan so that the interest earned is applied to your mortgage	Saves interest on your loan and assists you to pay it off more quickly
Redraw	Allows you to redraw any funds paid in excess of the scheduled repayments	Allows access to extra repayments while saving you interest
Loan Portability / Security Substitution	Substitute security properties while keeping the same loan	Not having to reapply for a new loan
Extra Repayments	Ability to make extra payments to your loan	Saves interest by reducing the loan balance
Switch Products	Change from variable to fixed or another product	Safeguard against interest changes
Interest Only Repayments	You are only required to meet the interest on the loan for a set period	Reduces actual payments you have to make
Principal & Interest Repayments	Pays the loan interest plus a portion of the principle balance	Reduces the debt over time
Lenders Mortgage Insurance	Insurance protecting the lender against any loss if it is necessary to sell the property due to default. Usually paid in borrowing more than 80% of the property value.	Less deposit required
First Home Owners Grant	Government grant of $7,000 made to first home buyers.	Assists with costs and deposit