home loans

Breakthrough Loan

The Breakthrough Loan can get you started if you need a boost to your borrowing power to buy a home, or want to reduce your mortgage repayments.

It is based on a shared appreciation arrangement, which means that you share a portion of your home’s change in value with us when the property is sold.

The Breakthrough Loan is combined with another HomeStart loan that suits your situation.

Features
Boost your borrowing power	Add Breakthrough to a HomeStart loan and increase your borrowing power by up to 35%.
Reduce monthly repayments	Refinance with Breakthrough to substantially reduce your monthly loan repayments.
Save on Lenders Mortgage Insurance (LMI)	We charge a Loan Provision Charge (LPC), which is much less than LMI for most borrowers.
Buy existing	Available in metropolitan and selected regional areas. Not available for construction.
Repayments	No repayments required on Breakthrough until your property is sold. Repayments will apply to your HomeStart loan portion.
Interest rate options	No interest charged on Breakthrough. Variable, fixed or split rates available with your HomeStart loan portion.
No monthly account keeping fees	We don’t charge account keeping fees.
Repay Breakthrough early	You can ‘buy back’ HomeStart’s share of your appreciation at any time.
Use your equity	As your equity grows, you may have the option to use it to renovate, update or invest in another property.