AT SOUTHERN CROSS BUILDING SOCIETY YOU CAN MAKE LUMP SUM REPAYMENTS ON YOUR FIXED RATE HOME LOAN WITHOUT PENALTIES!!*

So not only do you get one of the lowest fixed rates in the market, you also enjoy flexibility similar to that of a floating rate loan! 

Whether you are buying your first home, upgrading, or considering re-financing, our mortgage team can help you.  For a brief description of what you can expect from a Southern Cross Home Loan see more details below.

Apply online today or simply download and complete the Home Loan Application Form and send it with your supporting information to your local branch.

Lump sum repayments attract no penalties, unless the mortgage is discharged or reduced to a balance of less than $20,000 in which case a fee will apply and interest adjustment calculations will apply in accordance with the Credit Contracts and Consumer Finance Act 2003. The minimum lump sum repayment amount is $1000.00.

Your Home Loan

Borrowing Amount	The Society will generally lend up to 80% of the registered valuation of the property or purchase price, whichever is the lesser.  The amount you borrow depends on your ability to repay.  As a guideline, your repayments should not exceed 40% of your combined household income.  The minimum loan amount is $50,000.
Term	You can select the term that suits you, allowing you to structure your Home Loan over the number of years you like up to 30 years.
Repayment Frequency	You can choose to make repayments on a monthly, or fortnightly basis, allowing your Home Loan repayments to fit in with your income periods.
Interest Rates	Fixed Rate: You can request a fixed rate for 6 months to one, two or three years; the interest rate will not change during that period. Variable (or Floating) Rate: The interest rate will change if the Society's variable rate changes. Our interest rates are set according to general market conditions. We aim to keep our interest rates competitive.
Application Fee	$650.00 - Negotiable
Legal Fees	If the total amount of the loan is $100,000 and above the Society will meet all costs associated with the preparation of the Society's security documentation by the Society's solicitors.  The applicant is expected to cover the fees associated with their lawyer explaining and arranging the execution of the Society's security documentation.
Security	First charge registered mortgage in all cases.
Insurance	Applicants are to provide their own cover and confirmation is to be provided to the Society.
Phone & Internet Banking	Once your loan is drawn down you can track the balance with Telephone and/or Internet banking.
Pre-approved Loan	You can apply to the Society for a pre-approved loan before you choose a property.
Who can apply?	You do not have to be a Society member to apply for a Home Loan. If you have a deposit and can show that you can meet the repayments, we want to see you!

Information required

• Sale and Purchase Agreement.
• Registered valuation may also be required depending on the amount borrowed compared to the value of the property.
• Two forms of current identification, one of which must be photo identification, such as a NZ Drivers Licence or Passport.
• If self-employed, the Society requires a copy of your latest financial statements complied by your Accountant or a letter from them verifying income for the year (a copy of your tax or GST return).
• Confirmation of income, e.g. 2 payslips, letter from your employer confirming work history, job description/contract, annual income details.
• Income from other sources must be substantiated. If you receive income from rent, a copy of the Tenancy Agreement must be provided. If you earn income from interest or dividends, proof of amount earned needs to be provided.
• Three months of bank statements from the account where your salary/wage is credited.