Can I make additional payments on top of my regular payments?
Yes, you can make additional payments in addition to your regular repayments. If you’re on a Neat variable or Flex variable loan, you can make unlimited additional payments whenever you like at no extra cost. These additional payments will appear as available funds in your loan account (otherwise known as your redraw facility) which you can either redraw to your ubank accounts if you need them, or use them towards a future loan repayment. Check out our home loan terms for more info on redrawing additional payments.
If you’re on a Flex fixed loan, you can make additional payments up to $20K during your fixed term. If you exceed $20K in additional payments during your fixed term, you may be charged break costs. You may also be charged if you redraw more than $20K in additional payments while on a Flex fixed loan. Give us a call on 13 30 80 if you want more info on break costs. Additional payments will appear as available funds in your loan account which you can redraw to your ubank accounts if you need them.