Laboratories Credit Union Limited

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Our home loans come with some great benefits

Variable and lump sum repayments

By contributing any extra income to your loan, in addition to your usual repayments, you are able to pay off your loan sooner and therefore you could save thousands of dollars in interest costs.

Automatic repayments (salary/account)

You can arrange to make automatic repayments either by payroll deduction, direct debit from your savings or transaction account, Internet or Phone banking. Setting up automatic repayments saves you time and enables you to avoid any late fees.

A redraw facility

The Credit Union gives you the option of making extra repayments on your loan and then having the flexibility of being able to redraw on these extra repayments. Terms and conditions are available on application.

100% Offset Available

At LCU we provide a 100% offset that allows members to link the money in their deposit account to their mortgage account. The interest accrued on your loan depends on the principal of the loan (the money borrowed). If you have an offset account the principal amount will be reduced by the amount in the offset account for the monthly interest calculation and therefore the interest costs will be lower.

No monthly loan service fees

Unlike some other institutions, we do not charge any account keeping or service fees on our mortgage accounts, saving you money.

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