Rates as low as 5.84% p.a1 (Comparison 5.87% p.a.2)
Earlier this month, Connective Essentials reduced the variable interest rate for new Owner Occupier P&I home loans, with less than or equal to 70% LVR to 5.84% p.a (Comparison 5.87% p.a.). This is a great offer to help your customers realize their dreams of owning a home.
Please be aware that variable rate loans formally approved and instructed on or after Friday 1 September 2023 will receive the new rate. Any loans approved or instructed before this date will receive the rate applicable at the time the loan was formally approved and instructed.
We appreciate your patience and understanding throughout July and August, while we worked hard to get back to the service levels (SLAs) you’ve come to expect from Connective Essentials.
Offering a one-business-day turnaround on new applications, variations, and construction progress payments means a better experience for both you and your customers. You can view our full list of SLAs on our website, under the Home loan service levels tab.
Note: The specified SLA timeframes do not include the day of lodgement.
We’ve simplified the construction process by removing the need for customers to complete a progress payment form when requesting a payment to their builder. For all progress payment requests please send us the builder’s invoice, signed by all customers using a pen-to-paper wet signature only (electronic signatures cannot be accepted).
Customers will also need to authorize the payment by including the wording “please pay invoice”. This can be done by using one of the following two methods:
If your customer needs to redraw funds from their construction loan to make their deposit payment, please ask them to complete and submit a redraw form. Once the redraw is approved and the customer receives the funds, they can then make the payment to the builder themselves.
If you have any questions regarding our rates, our SLAs, construction progress payments, or would like to discuss a customer’s scenario, we’re here to help! Simply contact your Connective Home Loans BDM.
Important information:
1Information, rates, and offers are correct as at 1 September 2023 and are subject to change. Fees and charges apply to Connective Essentials products. Interest rates, fees, and charges are subject to change. Terms and Conditions apply to all Connective Essentials products and are available on request. Lending criteria apply.
2Comparison rates are based on a secured loan of $150,000 over a term of 25 years.
WARNING: This comparison rate applies only to the examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
