Weekly or Fortnightly Repayments

This is best suited to people on wages or a salary that get paid weekly or fortnightly. This is also a good alternative to paying the mortgage monthly as it increases the amount of payments you make, saving you interest and cutting down the life of the loan.

Extra Repayments

Making extra repayments is one of the best ways to save money and reduce the term of your loan. On top of regular repayments any additional funds will be deducted from the principle which in turn reduces your interest rate and assists you to pay the loan off sooner.

Redraw Facility

This is an option for people who want to be able to access any of the additional payments they make into their mortgage. It is a great way to have an accessible buffer in case of emergency, however some lenders may have limits, fees for redrawing etc. so check the terms and conditions.

Repayment Holiday

Repayment Holiday allows you to have exactly that, a holiday from repayments. It is a period of time that you agree on with your lender to have a complete break from repayments or make reduced payments. Often used for Job or career changes, Maternity or holiday periods.

Offset account

Essentially this is an everyday savings account (with atm and card access) that is linked to your home loan and a great way to save yourself money. The more money in your offset savings account, the more money you’ll save on interest on your mortgage. It is best to discuss this option in detail with an experienced Uprosper broker to see if it will be of maximum benefit to you.

Direct Debit

Direct debit is when your mortgage repayments are set up to automatically be withdrawn from which ever account you nominate. Aside from ensuring there is sufficient funds for repayment, it takes the hassle away from doing repayments manually.

Professional package

These packages are targeted at larger home loans generally associated with prestige property. They offer discounted rates, fees and banking services. Often very attractive, however if you don’t use many services and make use of the discounted fees you may be better off with other options that Uprosper can provide.