The repayment amount outlined in your customer’s letter of offer, and subsequent post-settlement variation confirmation letters, is calculated based on the following:
For more information on how repayments are calculated, see the ‘Repayment calculation’ section within our Home Loans Product Guide.
If the loan is set up with principal and interest repayments, the repayment amount consists of paying both a principal and an interest component, with the proportion of principal and interest changing over the term of the loan.
At the beginning of the loan term, the repayment amount will typically have more interest than principal. Towards the end of the loan term, the repayment amount will have more principal than interest.
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