Important information

Please be aware of the following;

Effective Immediately Tuesday 6th March 2012 Credit License Cancellation Lodged By Us With ASIC

Ability Finance have elected to cease all credit activities covered by ASIC credit licensing for various reasons including but not limited to;

  1. Lender commission cuts over the past few years.
  2. Additional liability, workload and costs arising from National Credit Licensing
  3. Lender minimum volume restrictions which result in smaller brokers not being able to offer all options to customers.
  4. Regularly encountered inexperienced lender staff who are unaware of their own employers policies whose advice wastes both broker and customers time and resources.
  • As a blog style website there is only historical content contained within this website that is out of date and no longer applicable. This content must only be used for historical reference purposes.
  • Ability Finance, through choice, no longer represent any lenders who may be historically referred to within this website.
  • No information or content contained on this site should be relied on as being current.
  • No content contained within this site should be taken as advice in any way at all.

Should you feel there is any content that should be removed from this site please contact the webmaster.
By any chance you feel specific content is interpreted as offering any credit activities by us it is to be ignored, please report to the webmaster for removal or modification.
If you are legally entitled to engage in credit activities and would like to advertise on this site please contact the webmaster.
If you would like a website developed or even to purchase this site modified to your requirements please contact the webmaster.
Meanwhile we are working hard at creating a one stop shop for purchasing high quality spray painting equipment online including an extensive range of the best spray gun models we are able to offer at discounted prices everyday right across the complete range of available spray gun models. Online spray gun prices with old fashioned personal service levels.

Homeside Home Loan Pricing Structure Discounts

Homeside have announced new pricing structure for variable interest rate home loans.

The tiered discounts and interest rates for new Homeside Homeplus loans will be based on both;

  • a customer’s aggregate Homeside borrowings; plus
  • the Loan to Value Ratio (LVR) on the new application.

For new home loan applications with total Homeside lending of $250,000 or more and where the LVR is up to 75% the new rate effective 16 October 2009 will be 0.80% p.a. off their standard variable rate. The discount of 0.80% p.a is effective from 16 October 2009 and is for new loan applications with total Homeside lending of $250,000 or more and where the LVR is up to 75% the maximum discount will apply.  It is a reduction of 0.80% pa on the standard variable rate (unpublished).

Homeside Variable Discount Rates

Home Loans Less Than $250,000 Home Loans $250,000 and above
Loan To Value Ratio (LVR) Discount Discount
Up to 75% LVR 0.60% 0.80%
Above 75% up to 90% LVR 0.50% 0.70%
Above 90% LVR 0.40% 0.50%

Additional rules relating to the new structure;


  • Existing properties will not be included in the LVR calculation of a new loan unless they are cross-collateralised
  • Interest rates for existing Homeplus loans will not change unless a variation is made and the existing loan is recontracted

Typically loans with lower LVRs do not require a valuation (with a contract of sale) or mortgage insurance, and are on average more straightforward to underwrite. This means we can process these loans very quickly where all supporting documentation is provided upfront, and so deliver a great service experience to clients.  It also means that the cost of application processing for these loans is lower than for higher LVR applications.

Homesides new pricing structure reflects this difference in their processing costs, and also reflects the fact that, on average, lower LVR loans have a better credit risk experience.

Homeside have also announced a rationalisation of the Homeside product range. The following Homeside products will be removed from sale from 30 November 2009:

  • Plain and Simple Home Loan
  • Offset Home Loan
  • Reducible Mortgage Loan
  • Homeplus 1 Year Introductory fixed rate

Please note that existing Homeside customers in these products will continue to be able to vary or increase their existing loan facilities.

Homeplus will be positioned as the core product to meet the majority of customer needs. The Peak Performance Equity Mortgage and Fixed Rate Interest Only are positioned to meet the specific needs of some customer segments.

Send your home loan application details to Ability Finance brokers who can calculate and compare the benefits of this new home loan offer for you.