Permanently reduce your home loan limit

You can arrange for the limit on your home loan account to be permanently reduced if you have funds available in your redraw or offset account.

It is important to note that a reduction to your home loan limit is permanent and an application with supporting documents will be required for any future increase/s to the limit, which will be subject to a credit assessment and approval, and any applicable fees.

• If your home loan BSB starts with 182, your repayment amount is based on the account’s limit and a limit reduction will reduce the minimum monthly repayment amount. After your limit reduction has been processed, you’ll receive a confirmation summary which includes your new repayment details. There will be a 30-day payment change period before the new repayment comes into effect. This means your next repayment stays the same, and then any subsequent payments will be the new repayment amount.
• If your home loan BSB starts with 183, your repayment amount is based on the account’s balance. A limit reduction won’t reduce the minimum monthly repayment amount.