Re Drawing On A Home Loan

[Erwin Fletcher]

I owe about $70k on my homeloan and I am quite well in front. I need to get $5k asap is it easy to re draw on your homeloan to get this? Is there any fees? Any advice would be much appreciated as I have never been down this road before.

 

[Lensen]

I owe about $70k on my homeloan and I am quite well in front. I need to get $5k asap is it easy to re draw on your homeloan to get this? Is there any fees? Any advice would be much appreciated as I have never been down this road before.

Call your bank.

Fees, conditions etc depend greatly bank to bank. If it's a loan in your name only its generally just a phone call, in joint names might need to sign something.

 

[Chief]

With my loan I can go in online and redraw at any time. Just pick the split I want to get the money from, type in a figure, choose the date I want it to come out and click OK. It is just as easy to put the money in.