Re-advance allows you to withdraw funds from your existing bond in an easy and convenient manner from you existing home loan. A Re-advance gives you access to the funds that make up the difference between the original registered home loan amount and the outstanding balance. It’s simpler than registering an additional bond and the funds are readily available.
Re-advance is suited to:
- Customers who want access to capital repaid
- Customers who do not qualify for a Pre-paid and do not want to register a Further Loan
- It is easier than registering a Further Loan
- Your monthly repayments are automatically adjusted
- You can apply for the term of the loan to be extended conjunction with the application