Mortgages - Frequently Asked Questions ?

How do I apply for a Credit Union mortgage or approval in principle?

Contact Richard Dunn on 04 471 4852 or 0800 429 000 (press 4).
He will assist you to make informed decisions on your mortgage needs and guide you in preparing your Credit Union mortgage application.
Click here to download an application form. Complete it and send in with proof of income and any other supporting information you have.

When will funds be released?

When the Credit Union receives the correctly completed documents, the funds will be disbursed to your solicitor, on the agreed settlement date.

Can I make bulk payments or set my repayments higher than the minimum?

Yes. There is no penalty charge or early repayment fees, so repay at your own pace as long as the minimum payments in the agreement are met.

Am I required to repay the loan in full with proceeds from my superannuation if I PERF, disengage or retire?

Not necessarily. In most cases, a part of your loan can remain – each case will be decided on its merits.

Can I re-borrow against my original limit?

As you pay off your flexible rate loan, the principle that is repaid can be re-borrowed. This option is not available for fixed rate terms.

Click here to download the Mortgage Extend Credit application form. To re-borrow to your original limit (min. $500.00). If the signed request is faxed to the Credit Union before 2 pm it will be actioned the same day.

Which solicitor should I use?

One that you are comfortable with – ‘shop around’.

Can I get a lifestyle loan while I have a mortgage?

Yes. You are entitled to apply subject to normal lending criteria.