Home loans for equity release

Major banks

Other major banks account for close to 20% of home loans in Australia. Some are also owned by the big 4 banks. They tend to have a stricter lending policies compare to the big 4 banks, and some lenders are very conservative with their assessment process, hence they are able to offer slighly lower interest rates.

Variable

80% LVR

AMP Bank

6.81%

Variable rate

6.99% comparison rate

Professional Package

Variable

80% LVR

HSBC

7.37%

Variable rate

7.695% comparison rate

Home Loan Package Home Equity

Mutual banks and credit unions

Mutual banks, credit unions, and buildings societies all fall into the customer-owned banking sector in Australia. Although customer-owned banks can often offer you a better interest than other banks and lenders, you generally have to be a strong borrower to get approved.