Line of Credit

Home Loan Line of Credit

• Ability Finance will help you choose a flexible home loan product…
• Do you require the ability to access the equity in your existing home at will?
• Prefer constant redraw or use of your home loan funds up to the approved limit at any time?
• Desire the flexibility to utilise your loan account for salary credits, everyday transactions etc?

....Then a Home Loan Line of Credit Product may suit your needs.


With a Home Loan Line of Credit you can access your funds up to the approved limit and structure your accounts in many different and varied ways, the minimum you need to pay is the interest charged at the end of each month. You can use your Line of Credit account as your everyday transaction account with regular deposits and withdrawal transactions.

Many lenders offer the ability for you to operate this facility as an all in one account, contact Ability Finance now for more information.

Line of Credit loans allow borrowers to borrow up to a predetermined, specified limit which is secured by a registered mortgage over property. These loans provide access to funds as and when required up to the original approved loan amount. Generally the minimum repayment required is the accrued interest only portion. Most lenders will require payments towards the loans principal amount after a period of time. These loans can be a convenient way of generating funds for investment or business purposes up to the pre-determined limit. Line of Credit loans provide flexibility; the funds can be used when and as needed and paid back without inflexible minimum principle and interest repayments. The minimum required is usually the interest on the outstanding principal and securing a line of credit loan with residential property is a convenient method of obtaining finance with an interest rate that is lower than business loans, credit cards and personal loans. A line of credit loan can require a certain amount of discipline by borrowers to ensure that over time the principal of the loan is reduced. Interest rates for a line of credit loan are generally slightly higher than standard types of home loans such as standard and basic variable interest rate home loans.