To arrange a balance or limit transfer between your client’s home loan sub-accounts, we’ll need to speak to your client directly so they can verbally accept the changes. Please ask them to call us on 1800 007 722 (+61 2 8550 5666) 9am to 5pm (Sydney time).
It is important to remember:
- The end balances cannot exceed the facility limit
- End limits on (each of the) client’s accounts must be above $20,000
- Changes to a fixed rate account will usually incur a break cost
- We’re only able to transfer limits between accounts within the same facility
- We’re unable to transfer a limit to an interest only sub-account without a top-up application being approved for the interest only portion of the facility. Any increase to the interest only limit will require a credit assessment
- For home loan accounts with BSB 182-182, when transferring a limit to another sub-account, the limit transfers will trigger a payment change and repayments will be adjusted on the next repayment date (known as the next key date). As our repayments are processed in arrears, in most instances the change will be effective from the repayment date that follows the next scheduled monthly repayment.