A line of credit loan is a flexible loan allowing you to draw down and repay smaller and larger sums at any time up to the approved limit. These loans have no agreed term and repayments are interest only based on the amount you have drawn down at the time.
A line of credit mortgage loan lets you borrow up to an agreed credit limit and once you've repaid a part or all of it, you can redraw it again up to that credit limit without incurring redraw fees.
A line of credit mortgage may be a flexible way to borrow money for investments, wealth creation or renovations. These loans have an agreed term and repayments are interest only based on the amount you have drawn down at the time.
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