Direct Debit arrangements will be put in place with the loan documents. You can make repayments on a weekly, fortnightly or monthly basis. You then have the ability to manage your loan accounts via our modern Internet Banking Platform.

It is important you contact us as soon as possible if you miss a repayment or are experiencing any financial difficulty or stress. We will work with you to support you through any difficult times you experience.

Loan repayment will be set out in the approval letter, loan documents are also displayed on the internet banking platform.

An offset account is a separate but linked account to your main loan account, into which you may deposit and surplus monies. Any monies deposited into your offset account are offset against the outstanding loan balance and reduce the principal amount on which you pay interest.

​Part 10 of the National Credit Code requires that credit providers include a comparison rate when they advertise credit which is regulated by the Code. The comparison rate includes:

-  The interest rate
-  Most fees and charges
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For example, if a lender advertises an interest rate of 5.49%, its comparison rate might be 5.75%. The comparison rate regime aims to inform consumers of the true cost of credit that applies to a specific credit product and make it easier for consumers to compare the different credit products available on the market. A comparison rate does not include all fees and charges. For example, the comparison rate does not include:

-  Government fees and charges
-  Charges that are only charged in certain circumstances (e.g. if you pay off the loan early).

A property valuation is a report on the proposed security property prepared by a professional valuer, with the assistance of relevant market and property data. The report provides Granite with an overview of the property, its current condition, future marketability and most importantly a professional opinion on its current market value. The figure is then used to ensure compliance with relevant credit policy and assist in the risk assessment and pricing determination.

Granite does not determine the value of your property. A professional valuer undertakes this task. Granite relies on the valuer's professional opinion.

This will depend on the value of the property being acquired, the state in which the property is located and whether or not you qualify for any exemptions. Your broker will be able to assist you here.