Key product features explained
Here is more information on the key features you can access with the Macquarie Flyer Home Loan Service. Unfortunately, not all of the features listed may be available on your loan. Please check with one of our Macquarie Flyer Mortgage Consultants to find out which features apply to different loan options.
Earn Qantas Frequent Flyer points+
The Macquarie Flyer Home Loan Service enables Qantas Frequent Flyer members to earn Qantas Frequent Flyer points+ upfront upon settlement of their loan. You can find out more details of our points offer.
Able to pay interest only
You can choose to repay part of the principal and interest on your home loan or just the interest only. If you elect to pay interest only, your repayments will not reduce the balance of your loan. Interest only is available for set periods for example, 5, 10 or 20 years. After this time, you will be required to repay the principal and interest.
Interest can be capitalised to the loan
This means the interest payable is added to your available loan balance.
Multiple accounts or splits available
Under the one loan you can have multiple accounts to allow you to manage parts of your loan differently. For example, a variable interest rate on one account and a fixed rate on the other; or keep your personal and investment activities separate.
Offset account
The balance in your account reduces the amount of interest you pay on your loan. For example, if you have a loan of $60,000 and a linked account of $20,000, you will only pay interest on $40,000 (that is, your loan balance less the amount in the account). Please be aware that an offset account can only be linked and offset against a variable rate.
Fixed and variable rate options
- A fixed rate is an interest rate that does not change in a set period of time and is good if you want certainty in how much your repayments will be.
- A variable interest rate goes up or down depending on what is happening in the market and is set by your home loan provider.
You can choose whether to have all or part of your loan fixed or variable.
Redraw available
This is a feature of your loan that enables you to draw on any of your available loan limit. This is the difference between money paid in accordance with scheduled repayments and other repayments made to your loan. There is no minimum amount to redraw and this transaction is generally free using phone and online access services.
Payments via direct debit or salary credit
You can make home loan repayments by setting up an automatic withdrawal from your bank account or an automatic deposit from your salary.
Additional repayments allowed
This is a feature that enables you to make additional repayments to reduce your loan balance without being charged additional fees.
For loans on fixed rates, break costs may apply if you make additional payments of more than 5% of your loan limit in any one year.
Portable
This lets you use the same home loan for a new property rather than going through the hassle of discharging your existing loan and getting a new one.
Internet and phone access
View, enquire and transact on your home loan 24 hours, 7 days a week via Internet or phone access.
ATM and EFTPOS access
Withdraw funds from your home loan Australia-wide using an automated teller machine (ATM) or EFTPOS terminal.
Chequebook
Withdraw funds from your home loan by writing a cheque.
BPAY®
Make payments in and out of your home loan using BPAY®.
Land and construction option available^
When you’re buying land and building your home, you don’t usually need to pay all of your suppliers up front. Payments fall due at various intervals, so you need a flexible home loan that enables you to make payments when required.
