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Whether you're in the market for a new home or want to update the one you've got - Big Sky has the home loan to suit your needs.
Big Sky offers a highly competitive and comprehensive range of mortgages, with greater flexibility and more features, so you can pay your loan off faster, with less interest expense.
Click to view detailed information:
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Standard Variable Loan
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Big Sky’s Standard Variable Loan product has features to make your home loan easy to manage, with a low interest rate and an even lower interest rate for loans over $250, 000. The100% Offset account and redraw facility ensure any extra contributions you make can be accessed at your convenience.
With no monthly fees, this loan is packed with flexibility and members receive personal service to ensure they extract as much benefit out of the loan as possible. This loan is ideal if you are buying a new home or refinancing an existing loan.
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Talk to us about how Big Sky’s Standard Variable Loan can be structured to suit your individual needs.
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Features – Standard Variable Loan
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|  | | | | | | | | | | | | | | | | | | | Flexible repayment options
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| | Free internet & telephone banking
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| | Loan term (up to) 30 years
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| | Optional cover to protect you in the event
of accident, illness or unemployment
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Click here to view the current interest rates.
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Click here to view the lending fees and charges schedule.
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Apply here or call 1300 654 321 for more information.
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100% Offset Account
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An Offset account can significantly reduce the amount of interest expense and the term of the loan. You can access your funds after transferring them to your at-call account via telephone or internet banking. The advantage is that while the balance is greater than $500, it is offset against the loan balance.
For example, you may have a home loan balance of $100,000 and an Offset account balance of $15,000. Big Sky will calculate the interest charge as if the outstanding home loan balance was $85,000. This may reduce the overall cost and term of the loan.
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Fixed Rate Mortgage
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Fixed rate mortgage loans are an ideal way to guarantee your interest expense. Big Sky now offers highly competitive rates for fixed rate loans.
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Features – Fixed Rate Mortgage
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| | | | | | | | | | Special Rate Lock Option during approval process (Fee applies)
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| | Fixed rate option (up to 5 years)
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| | | | Free internet & telephone banking
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| | Optional cover to protect you in the event
of accident, illness or unemployment
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Apply here or call 1300 654 321 for more information.
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Secured Line of Credit
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Most homes regularly increase in value. With a Secured Line of Credit you can have a secured overdraft facility to allow you to access that value at your convenience. The beauty of a secured overdraft is that once it is in place don’t have to re-apply each time you need to access the value in your home.
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Features – Secured Line of Credit
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| | | | | | | | | | | | Flexible repayment options
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| | Free internet & telephone banking
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| | Loan term (up to) Indefinite
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| | Optional cover to protect you in the event
of accident, illness or unemployment
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Click here to view the current interest rates.
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Apply here or call 1300 654 321 for more information.
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Pre-approval
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If you are looking to buy an existing property at an auction or by private sale, you need to know what your limit is. Big Sky can provide you with a conditional approval which is valid for up to 3 months.
Now you can bid at an auction with the confidence that your lender will fund your dream home!
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Deposit
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The size of your deposit gives you increased flexibility in the amount you want to borrow. Existing borrowers may be able to use equity built up in their home as an alternative to deposit. For people renting it is sometimes difficult to save a deposit. To begin it is a good idea to save the amount of their proposed loan repayments, minus rent cost, to help determine if they can meet the desired repayment amount. This demonstrates your capacity to repay as well as starts saving for your deposit.
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Need a substitute for a cash deposit between signing contracts and settlement?
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 Deposit Power Short Term Application Form
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Deposit Power Long Term Application Form
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What is a Deposit Power Guarantee?
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Deposit Power Guarantee is a guarantee also known as a bond that substitutes for a cash deposit between signing contracts and settlement. The Guarantee can be used for all or part of the deposit required up to a maximum of 10% of the purchase price. It is a guarantee to the vendor by Vero Insurance Limited ABN 48 005 297 807.
At settlement you, the purchaser are required to pay the full purchase price including the deposit. The use of a Guarantee does not remove your obligation to pay the full deposit upon settlement. If you default under the Contract of Sale for the purchase but still required to pay the deposit, the vendor can claim the Guarantee amount from Vero.
Vero will then recover the money from you.
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Who can apply for the Guarantee?
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Guarantee users include existing property owners who wish to purchase property, investors who wish to expand thier property portfolio and first home buyers.
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Why do Purchasers like Deposit Power Guarantee?
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Like many of today's purchasers, cash for the 10% or even 5%, deposit required to enter into a contract on another property is often tied up in the current home or other investments. This can mean either expensive bridging finance or borrowing from a finance company at high interest rates. Regardless of where the finance is obtained, interest charges establishment fees and other up-front costs connected with the loan can be expensive and time-consuming to arrange.
Deposit Power offers an efficient, secure alternative that saves you time and money.
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Does the Guarantee cost less than other deposit options?
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If you purchase a Deposit Power Guarantee representing $20,000 deposit, the fee including stamp duty is $240. Alternative bridging finance for the same amount could cost you an application fee of often 1.5%, totalling $300; plus interest payable over eight weeks (calculated at an interest rate of 6%) of $185. The total cost of bridging finance in this example is $485.
As well as being less expensive, a Deposit Power Guarantee is fast. A response is usually provided within 24 hours of your application.
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Can I use the Guarantee at auctions?
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Yes. A Guarantee can be issued prior to you attending an auction. The Guarantee amount is fixed, but not the property details, so you can attend a number of auctions. You simply complete the vendor and property details on the Guarantee Certificate when you are the successful bidder.
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Will the vendor accept the Guarantee?
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The Guarantee is legal and available in all states and it is at the sole discretion of the vendor to accept it. However, the vendor is often anxious to obtain a contract of sale on the property and secure a deposit commitment from the purchaser. Once the Guarantee is provided, contracts are signed and the property is sold.
It is recommended that a Suggested Special Condition (found on the back of the Guarantee Certificate) is inserted or annexed to the Contract of Sale. This condition will amend the deposit provisions and allow the Guarantee to be used.
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What is the Counter Indemnity?
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Vero gives the Guarantee on the understanding that you will pay the vendor the Guarantee amount on the settlement date of the contract. The Counter Indemnity is the legally binding right you give to Vero to pursue recovery against you for any part of the Guarantee amount we must pay to the vendor if you default under the Contract of Sale
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When does the Guarantee expire or terminate?
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The Guarantee ceases when the Contract of Sale is completed, terminated, rescinded or the expiry date occurs, whichever happens first. The Guarantee also terminates when a claim is paid by Vero the guarantor.
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Can I obtain a refund if I don't use the Guarantee?
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Yes. If you return the unused original Guarantee Certificate within 30 days of issue the fee will be partially refunded. An administration fee will be deducted and the balance will be mailed to you.
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Who are Vero?
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In Australia Vero is part of a group that can trace its origins back to 1833. Since then we have successfully protected our customers personal and business assets by operating with a depth of knowledge and a reputation for promises kept. Built on these solid foundations, Vero now provides dynamic and forward thinking solutions for all our customers. Vero is part of the Promina Group.
The Vero brand is based upon a simple premise - to provide our customers with certainty and peace of mind, through innovative, specialised and expert product offerings.
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Click here to view the current interest rates.
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Protect your bricks and mortar during settlement
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Purchasing a home or investment property is one of the largest and most important financial decisions that you will make. Big Sky and Allianz want to help ensure that you have your asset protected. That’s why Big Sky is pleased to offer you FREE building insurance for up to 90 days, during your settlement period, when you purchase an Allianz Home Insurance Policy.
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How do you obtain your free building insurance cover?
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As soon as possible after entering into a contract to purchase a new home or residential investment property, call Big Sky on 1300 654 321 or contact your nearest service centre with the settlement date of the purchase.
Terms and Conditions apply.
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First Home Owners Grant
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What is the First Home Owner Grant?
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The First Home Owner Grant (FHOG) scheme was established to offset the effect of the GST on home ownership by providing a grant to first homeowners. The scheme came into effect on 1 July 2000 and is an on-going scheme. The FHOG is not means-tested nor is it restricted by the purchase price of the property.
We also accept State based FHOG's.
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How Much is The Grant?
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A one-off payment of up to $7,000 will be payable to eligible first home owners to help with their purchase or construction.
The Australian Government has announced a First Home Owner Boost.
The First Home Owner Booster supplements the First Home Owner Grant Scheme.
First home buyers who purchase established homes will receive a boost of $7000 taking the grant to $14000.
First home buyers who build a new home or purchase a newly constructed home will receive an additional $14000 taking the grant to $21000.
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Are You Eligible?
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To be eligible to receive the FHOG, each applicant must satisfy the following eligibility criteria:
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- Eligible applicants must be natural persons, who are Australian citizens or permanent residents who are buying their first home in Australia
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- To qualify for assistance, neither the applicant nor their spouse (or de facto) must have owned a home prior to 1st July 2000, either jointly, separately or with some other person
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- Neither the applicant nor their spouse (or de facto) must have claimed this grant previously
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- Entering into a binding contract or commencement of building, in the case of own builders, must have occurred on or after 1st July 2000
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- An eligible home will be located in Australia and will be a new or established house, home unit, flat or other type of self-contained fixed dwelling that lawfully can be used as a place of residence
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- An eligible home must be occupied by the applicant(s) as their principal place of residence within 12 months of completion of construction or settlement of the home
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- Application for the grant must be made within 12 months of completion of the construction or the settlement of the home
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- There is no tax payable on the grant
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- Joint applications will be restricted to a single application for a single property and only one payment will be made
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Which Homes Qualify?
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The home must be a fixed dwelling that meets local planning standards and this includes new or existing dwellings such as a house, flat, unit, townhouse or apartment.
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How and Where Do You Apply for the $7,000 Grant?
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Applications forms are available from Big Sky. On application a Big Sky Consultant will discuss with you what supporting documentation is required. You can lodge your application through Big Sky.
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Property and Pest Inspections
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Property and pest inspections can save you a lot of time and expense down the track. These will inform you of the property’s conditions allowing you to take this into consideration and should be conducted before you make an offer or bid for a property. Any severe problems will be identified which will enable you to determine if you wish to continue with the purchase and may give you additional bargaining power.
The cost of a trained experienced inspector can be significant so you should do a mini check yourself before contacting a specialist. Start by checking the following:
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- All taps are working (hot and cold)
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- Turn all the light switches on and off
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- Lock and unlock all windows and doors
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A trained inspector should inspect the following:
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- Site (including garage/carport, shed, steps, fencing, water drainage, paths and driveways)
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The inspection report should list areas not inspected with reasons why, a summary of the overall condition of the property, listing of significant areas that need attentions and, if necessary, a recommendation for further inspection or assessment.
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Related information
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What is a Comparison Rate?
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Home & Contents Insurance
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Loan Calculators
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Loan Application Checklist
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Free building insurance offer terms and conditions.
The Special Offer is available on approval of a home loan and may only be used in conjunction wit the purchase of a residential home or residential investment property. This offer is available to Big Sky members throughout Australia. The insurable interest rules, applicable legislation and regulations, and legislation of the purchaser of real estate pending settlement may differ from state to state. Please seek independent advice to ensure that you are adequately covered at the appropriate time. The free building insurance cover is offered subject to purchase of a 12 month Allianz Home Insurance or Allianz Residential Investors Insurance policy through the Big Sky Credit Union Ltd, commencing upon the settlement date quoted at the time the free building insurance is arranged or following sixty (60) days of the free Building Insurance inception, whichever occurs first. Your Big Sky insurance consultant will confirm whether you are eligible for the free building insurance cover, and advise you of your duty of disclosure, along with our privacy policy. The free building insurance offer may be withdrawn by Allianz or Big Sky at any time subject to 30 days prior notice. Such notice to be provided in writing. Important note: Allianz cannot amend the Free cover period on this policy. If your settlement is delayed you can chose to arrange new cover or you can retain your existing policy as you continuing cover in place at the end of the Free cover period when your annual policy starts. However if your settlement date is brought forward you will need to call 1300 654 321 to arrange new cover. Insurance is provided by Allianz Australia Insurance Ltd ABN 15 000 122 850 AFSL 234108. In arranging this Insurance, Big Sky ABN 51 087 651 358 acts as an agent of Allianz, not as your agent. Big Sky receives a commission from Allianz. A Product Disclosure Statement (PDS) is available for this product and you should consider this carefully in deciding whether to acquire the product. A PDS is available on request from Big Sky.
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