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  • Home loan terms and mortgage definitions

  • Redraw facility

    A redraw facility allows you to make additional repayments into your loan account and then access these extra funds when necessary. It has two key advantages: it encourages borrowers to make extra repayments, thereby saving on interest costs; and it provides flexible access to funds when they are most needed. A redraw facility is available on most variable rate loans.  Not all lenders offer redraw facilities on their fixed rate loans.