What is the Repayment Safeguard?

At HomeStart we do things differently from other financial institutions, including the way we determine your home loan repayments. We break the link between interest rates and repayment amount; this is called our Repayment Safeguard. We determine your initial repayments based on your income and typically adjust what you pay once a year in line with inflation.

If there are times when the interest charged to your loan is more than your repayment amount, you can choose to make voluntary repayments to your loan so that your loan balance won’t increase.  If you continue to repay at the levels set by HomeStart, you’ll have the peace of mind of knowing that over time your loan will be paid off in full.