Land Rent Home Loan (ACT ONLY)

Realise your dreams of home ownership in the ACT with a Land Rent Scheme Loan - a partnership with the ACT Government to help make housing more affordable!

Features

• Loan terms up to 25 years.
• Flexible principal and interest repayment options allow you to choose:
  • when you pay – weekly, fortnightly or monthly to align with your pay cycle;
  • how you pay – payroll deductions, direct credit or over the counter;
  • and even how much you pay – minimum monthly repayment or add extra¹.
• Borrow up to the lesser of 90% of the value of the security property or $500,000².
• Purchase an existing property or build a new home approved under the ACT Government Land Rent Scheme.

Rates & Fees

• A competitive fixed or variable interest rate.
• Establishment fee $445³.
• No monthly service fee.

Extras

• pinnacle +plus membership - our package offering discounted interest rates and fees⁴.
• Insure your property, your valuables, your loan repayments or insure yourself.
• Land Rent Scheme Home Loan fact sheet. 

Eligibility

• Attend a free compulsory Canberra Institute of Technology (CIT) information session. For information on the CIT session dates, and to make a booking, contact the CIT on (02) 6207 3188 or by email.
• Provide relevant income details (tax return and any other documentation) together with an application form to the ACT Revenue Office.
• Once approved by the ACT Revenue Office, please apply for your loan through us.

  

Important Information

Terms, conditions, fees, charges and normal lending criteria apply.  Full details are available in our loan offer and on request.

¹Extra repayments are limited to $25,000 in any year during a fixed rate period. Break costs may be payable on repayments greater than $25,000 in any year with each year commencing on the anniversary of the date the loan was fixed. ²Lenders Mortgage Insurance is required where the loan is greater than 80% of the value of the security property.  This may vary based on the location of the property. ³A settlement fee of $150 and other upfront fees including valuation fees and government charges are payable. ⁴Eligibility criteria apply.