Term Loan

  • Principal & Interest – A standard term loan option that offers principal and interest repayments for the full term of the loan. Interest rate flexibility allows you to have a fixed or variable interest rate, and you can also split your loan.
  • Interest Only – Ideal for investors, this option allows you to have up to 10 years Interest Only repayments before principal and interest repayments are required. Fixed and variable interest rate options are available.

Line of Credit

Our line of credit allows you to draw funds as you need them up to an approved credit limit. Interest is charged only on the portion of the loan you’ve used. The credit limit is set at a percentage of the property value and/or capped at a maximum dollar amount. A key difference between a line of credit loan and a regular mortgage is that as you repay the line of credit, the funds you’ve paid are available to redraw again up to the credit limit, over and over again.

100% Offset Home Loan

Loansmackay’ 100% Offset Home Loan has a Savings Account attached to it. It puts you in control. It combines a fully featured home loan with all the benefits of a 100% offset savings account and lets you see at a glance what you owe and what you own because the offset balance is shown separately. The best part is that interest charges are calculated by applying the interest rate to the net balance (loan amount less offset balance) each day. For example if you have a loan amount of $250,000 and $10,000 (perhaps just after pay day) in the offset account, then you are only charged interest on $240,000.

Construction / Building Loans

Building Loans are available as a Term Loan at Loansmackay with several flexible options:

  • Fixed or variable interest rate options
  • 100% Offset Home Loan
  • Lo Doc Term Loans

Building is generally completed in several stages. Once a stage is completed, the builder will issue an invoice. If the stage has been completed to your satisfaction, you will authorise us to pay the builder. This means the loan is drawn in stages through progressive payments. The builder will issue you with approximately 5 invoices during the course of construction. Prior to making a payment to the builder, we may confirm the works claimed are completed.

Go-Between Loans (Bridging Finance)

At Loansmackay a Go-Between loan offers you an easy way to purchase/build a new home before you sell your existing one. Rather than needing to make two sets of loan repayments throughout the transitional period only repayments on the existing loan are required. There are no repayments required on a new home loan as these repayments (i.e. interest only portion) is added to the new loan. Often there is a fear that bridging finance is expensive but that is not the case these days. Special rules and provisions apply and it is best to discuss these with one of our qualified Home Loan Specialists.

Lo Doc

The Lo Doc (sometimes called Low Doc) means minimal supporting documentation verifying your income is required. Persons finding it difficult to prove their income use this type of loan. Loansmackay ensure that these customers are able to service these loans, as per responsible lending guidelines. It does usually come with higher fees, interest rate and some restrictions. Lo Doc is particularly useful for self-employed people. Principal & Interest and Interest Only options with fixed interest rates and variable interest rates are available.


Have you looked at your home loan lately? You might find that your home loan is not working for you and your money. At Loansmackay, we will find the right home loan for your needs, for the long term. Other banks and lenders will try to lure customers with a low interest rate, but there are often other hidden costs associated with these loans. The other problem with constant refinancing is that people extend their loan term with each refinance, and then they get further away from their goal of owning their home outright. We won’t try to convince you to refinance every few years, as we believe that constantly extending your loan term is not the way to financial freedom.


Loansmackay customers can get cash out of the following ATMs:

  • All customers – free withdrawals at the Big 4 Banks
  • ING customers – withdraw more than $200 from any ATM in Australia and ING will instantly reimburse the ATM fee the machine charges you (and free withdrawals at the Big 4 Banks)
  • Adelaide Bank customers – free withdrawals from any Bendigo Bank or Suncorp ATM as well as the Big 4
Australian Credit Licence 378617