*Valuation fee waived for first home buyers only
Membership Eligibility and Lending Criteria
Eligibility criteria apply to join Teachers Mutual Bank Limited. Fees and charges and lending criteria apply. Consumer lending terms and conditions available here.
Mortgage Offset Facility
Terms and conditions for the mortgage offset facility are set out in our Consumer lending terms and conditions and Conditions of use Accounts and access. For more information refer to our Mortgage Offset section.
Redraw is only available if borrowers have made additional repayments. If your loan has a redraw facility, you do not need to register to use the redraw facility on your loan account.
Lenders Mortgage Insurance
Lenders Mortgage Insurance Lenders Mortgage Insurance, or LMI, insures the lender in the event that the borrower defaults on the mortgage. It does not insure the borrower. Borrowers must still meet lending eligibility criteria for both the lender and the LMI provider.
Interest Only Loans
For interest only loans, repayments must be made monthly. Maximum Interest Only period of up to 5 years after which, loan must revert to Principal & Interest repayments.
Design and Distribution Obligations
The target market for this product will be found within the product’s Target Market Determination, available here.