Home Loans 21/12/2020

Bank of Us Home Loan Review

Read Here for Our Bank of Us Home Loan Review:

For home buyers, the Bank of us offers a flexible home loan that lets you borrow up to 80% LVR with a special 3-year fixed rate of 1.99% per annum.

For property investors, the Bank of us offers a flexible investment loan that lets you borrow up to 80% LVR with a variable interest rate of 3.03% per annum.

About Bank of Us

Bank of us started way back January 1870 as the Launceston Equitable Building and Investment Society – a cooperative venture providing housing finance for Tasmanian residents.

In the 1980s, it merged with Bass Building Society to become the largest non-bank financial institution in the state with assets of more than $90 million.

Marking a fresh image for the Society, Bass & Equitable changed its name to B&E in November 2001. Dropping its building society reference for the first time reflected the organisation’s push for a more youthful personal loan market, offering a wide range of financial services such as home loans, credit and debit cards, savings accounts, term deposits, cheque accounts, insurance, business overdrafts, and BPAY.

By November 2017, B&E had transformed once again to become Bank of us. It is now a customer-owned bank that benefits its members – not external stakeholders.

The Bank of us network currently has multiple branches in Hobart, Launceston, Devonport, Ulverstone, Burnie, Wynyard, Glenorchy, and Rosny Park.

Bank of us Home Loan Features

  • Low, competitive rates
  • No application fees
  • No ongoing fees
  • Plenty of options for easy loan management

Bank of us Home Loans

FlexiDiscount Home Loan

  • A simple loan with a variable rate or fixed rates from 1 to 3 years
  • 29% per annum
  • Great pricing
  • No offset account

Topline Home Loan

  • Flexible
  • 19% per annum
  • Variable rate
  • Offset account
  • Zero fee banking
  • Helps you save money

Flexiline Home Loan

  • Tap into your equity to renovate your home or invest in a new property
  • Gives you a ready source of funds
  • Secured by a first mortgage on your residential property
  • 61% per annum

FlexiDiscount First Home Loan Deposit Scheme

  • Bank of us has been selected to participate in the First Home Loan Deposit Scheme of the Australian Government
  • For property value up to 95%
  • To apply, simply book an appointment online, over the phone, or at any Bank of us branch

Bank of us Investment Loans

FlexiChoice Loan

  • Great for those looking for a residential investment loan
  • With options for variable or fixed rates
  • Interest-only also available
  • 99% per annum
  • 3 years fixed rate

Topline Loan

  • A super flexible loan with reward discounts
  • Same features as the Topline Home Loan but with an additional interest-only option
  • 43% per annum

Flexiline Loan

  • Tap into your equity to renovate your home or invest in a new property
  • Gives you a ready source of funds
  • Secured by a first mortgage on your residential property
  • Interest-only option available
  • 06% per annum

Who Can Apply For a Bank of us Home Loan?

To be eligible for a Bank of us home loan or an investment loan, you must be:

  • At least 18 years old
  • A permanent resident of Australia with a stable source of income

If you are eligible, you must then submit the following documents with your application:

  • Proof of identity – driver’s license, birth certificate, or passport
  • Proof of income – recent payslips
  • Proof of assets and liabilities – savings accounts, stocks, credit card statements

To compare Bank of us home loans with other mortgage rates, read our comprehensive reviews for major banks and other lenders.

Our Bank of Us Home Loan Review is just one of many. You can also read reviews on many more Home Loan Reviews at MakesCents.