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Frequently asked questions

How much can you borrow?

Can I apply if I haven't found a house yet?

How much will my repayments be?

How should I structure my loan?

How should I set up loan repayments?

Can I make lump sum repayments?

Can I fully repay my loan early?

How much is the loan application fee at BankDirect?

If you are unable to find the answer to your question, please call 0800 500 400 or if you are looking for the definition of a term, please click here for our Glossary.

How much can you borrow?
If you know roughly how much you could afford to repay fortnightly or monthly and how much you have for a deposit, click here to get an indication of how much you could borrow.

Can I apply if I haven't found a house yet?
Yes - it can be a benefit when negotiating a house purchase if you know how much money you can borrow. BankDirect can conditionally pre-approve your home loan finance so you will know how much you can borrow when you are searching for a home.

How much will my repayments be?
Repayment amount is determined by how much you borrow, over what period of time and at what interest rate. Click here to work out possible repayment options

How should I structure my loan?
To structure your loan there are a number of variables that need to be considered. BankDirect Account Managers specialise in working through all of these variables with you and advising what structure would suit you. To discuss call us toll free on 0800 500 400.

How should I set up loan repayments?
How you set up your repayments would normally depend on when you are paid. You can have monthly or fortnightly repayments on any day you choose. Call a BankDirect Account Manager to discuss you options 0800 500 400.

Can I make lump sum repayments?
Yes you can make lump sum repayments if you want to. If you are on a Variable Rate Loan or FlexiLoan there is no limit to the amount or frequency for making lump sum payments. If you are on a Fixed Rate Loan there is a $1k minimum and repayment penalties may apply.

Can I fully repay my home loan early?
Yes you can fully repay your loan early. If you have a Variable Loan or FlexiLoan there will be no repayment penalties for repaying your loan early. If you are on a Fixed Rate Loan, early repayment penalties may apply.

How much is the loan application fee at BankDirect?
Click here to view our current rates. And click here to view our current fees.


*This rate may differ for existing home loan customers. For more information please call us on 0800 500 400.
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